Infosys records robust growth in Q3 net, revenue

Bengaluru: Beating the street estimates, global software major Infosys on Friday reported Rs 4,466 crore consolidated net profit for the third quarter (October-December) of fiscal 2019-20, registering 23.7 per cent annual growth from Rs 3,610 crore in the same period a year ago.

Sequentially too, net profit grew 10.6 per cent to Rs 4,466 crore in Q3 from Rs 4,036 crore a quarter ago.

In a regulatory filing on the BSE, the city-based IT major said consolidated revenue for the quarter grew 7.9 per cent annually to Rs 23,092 crore from Rs 21,400 crore in the like period a year ago and 2 per cent sequentially from Rs 22,629 crore a quarter ago.

Under the International Financial Reporting Standards (IFRS), consolidated net income jumped 24.8 per cent year-on-year (YoY) to $627 million from $502 million a year ago and 9.6 per cent sequentially from $572 million a quarter ago.

Consolidated gross income under IFRS grew 8.6 per cent YoY to $3,243 million from $ 2,987 million and just 1 per cent sequentially from $3,210 million a quarter ago.

Operating profit grew 4.8 YoY to Rs 5,064 crore from Rs 4,830 crore a year ago and 3.1 per cent sequentially from Rs 4,912 crore a quarter ago.

Under IFRS, operating profit grew 5.4 per cent YoY to $711 million from $675 million a year ago and 2.2 per cent sequentially from $696 million a quarter ago.

"Operating margin at 21.9 per cent declined marginally (0.7 per cent) YoY from 22.6 per cent and remained flat (0.2 per cent) from 21.7 per cent a quarter ago in rupee and dollar terms," said the filing.

Buoyed by robust annual growth in the third quarter, the firm revised upwards its revenue guidance for fiscal 2019-20 to 10-10.5 per cent in constant currency.

"Revenue guidance is increased to 10-10.5 per cent in constant currency for fiscal 2019-20 from 9-10 per cent projected on October 11, 2019," it said in the filing.

Infosys, however, maintained the operating margin guidance range at 21-23 per cent for the fiscal.