Infosys Posts Rs 5215 Cr Profit, Up By 16.8%; Margins Swell To 25%, Digital Revenues At All Time High

The Bengaluru-based Indian IT giant Infosys has reported exceptionally green performance numbers in the third quarter, ending December 2020, exceeding its own expectations.

The IT giant has reported a net profit jump of 16.8% to Rs. 5,197 crore, with revenues climbing up to Rs. 25,927 crore.

We will share with you all the numbers disclosed by the IT giant.

Infosys’ Q3 Result Pointers

• Rise in consolidated net profit was 16.8% to Rs 5,215 crore, up from a profit of Rs 4,466 crore in Q3 of 2019.
• The gross revenue of the quarter grew by 12.3% YoY to Rs 25,927 crore, while 8,4% YoY in USD.
• In terms of constant currency, revenue grew by 6.6%.
• Q3 operating margin showed a YoY growth of 350bps, standing at 25.4%.
• This led Infosys to raise its FY21 revenue growth guidance band from 4.5-5%, while the margin guidance band from 24-24.5%.
• Infy’s digital revenues crossed 50% of the total revenue during the quarter, leading to 31.3% rise in constant currency, YoY.
• Free cash flow showed a 19.4% rise in this quarter, standing at Rs 5,683 crore, while the cash flow conversion stood at 109% of the net profit.
• Attrition rate for IT services also dropped from 15.8% to 10%, in this quarter.

Infosys Signs Deals Worth $13 Bn 

Infosys CEO and MD, Salil Parekh says,

“The Infosys team has delivered another quarter of excellent results. Execution of client relevant strategy focused on digital transformation continues to drive superior growth, well ahead of the industry.

The scale of new client partnerships with leading global companies such as Vanguard, Daimler and Rolls-Royce demonstrate the depth of digital and cloud capabilities of Infosys. 

The commitment and skills of our employees to support and drive the digital journey of clients are matters of great pride for me.”

In addition, the IT giant reported that it has signed large deals worth $7.13 billion.