Infosys Posts 38.3% Rise in Q3 Net Profit | CORPORATE ETHOS

Infosys Posts 38.3% Rise in Q3 Net Profit

By: | January 12, 2018
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Jan 12: Indian technology behemoth Infosys Technologies has reported a 37.6 percent rise sequentially in its net profit for the quarter ended December 2017, at Rs 51.29 billion. This is against the Rs 37.26 billion posted during the previous quarter. Against the numbers of Rs 32.08 billion posted in December 2016, the company saw its net profit rising 38.3%.

Meanwhile, revenue went up 3% , as against Rs 172.73 billion in year-ago period, said reports.  In US dollar terms, Infosys’ net profit rose to $796 million for the quarter under review, while revenues stood at $2.7 billion from the same period of last year. The Infosys scrip on BSE closed 0.3% up at Rs 1,079 on Friday.

The company today announced the numbers, which is the first after Salil Parekh took over as CEO and Managing Director on January 2. Parekh was appointed after Vishal Sikka quit in August, as a fall out if a public spat with co-founders led by N R Narayana Murthy.

Meanwhile, the company has also stated that standalone attrition at Infosys fell to 15.8% during the quarter from 17.2% in September quarter. In the December quarter, the company saw net employee addition of 3,251. Total headcount at the company was recorded at 201,000 at the end of December quarter.Client additions of 79 were also a hallmark during the quarter.

In another development, Rajesh K Murthy has put in his papers as President of Infosys citing personal reasons. However, he will be with the company till the end of this month.