Infosys’s N.P Up 12% Above Estimates, Revised Earning Guidance

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Infosys, India’s second-largest information technology company, posted a net profit of Rs 5,809 crore in the year-ago period, up from Rs 5,197 crore in the year-ago period.

Infosys Limited is an Indian media technology company providing business consulting, information technology, and overseas services.

The company is headquartered in Pune and is headquartered in Bangalore.

Infosys reported a 12 percent increase in net income for the quarter from October to December of the current fiscal year. Infosys, India’s second-largest information technology company, posted a net profit of Rs 5,809 crore in the year-ago period, up from Rs 5,197 crore in the year-ago period. Revenue rose to Rs 31,867 crore from Rs 25,927 crore in the year-ago period. Analysts had forecast that Infosys’ net profit would rise to 7-10% in the third quarter of the current financial year. Shares of Infosys rose 1.2 percent to Rs 1,877 per share.

Quarterly Performance Highlights

Net profit – Rs 5,809 crore (up 12% over the year)

Revenue – Rs 31,967 crore (23% increase over the year)

Total cost – Rs 24,436 crore

Free cash flow – Rs 5,399 crore

Number of active clients – 1,738 (up from 1,562 a year ago)

$ 100 million + clients – 37 (up from 29 a year ago)

Infosys expects to continue its strong earnings growth by raising its earnings guidance for the current financial year to 19.5% -20.0%. “Our strong performance and market benefits are a testament to how much we trust our customers to help them with their digital transformation.

This is reflected in the upgrade of our revenue guidance for the 2022 financial year to 19.5% -20.0%. We hope that large enterprises will continue to make healthy technological costs as they progress through their digital transformation,” said Salil Parekh, CEO, and MD, Infosys.

The Bengaluru-based company said it had accelerated major deal wins in the October-December quarter with a contract value of $ 2.53 billion. 

Nilanjan Roy the Chief Financial Officer said that “Despite price increases, especially due to supply issues, we achieved quarterly profit margins on price increases while continuing to improve consumption and adjust prices”

Infosys has increased its graduation program to 55,000 this financial year.

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