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Infosys Q3 Profit at Rs 3,250 Crore, Beats Estimates

Infosys reported a profit of Rs 3,250 crore on sales of Rs 13,800 crore in the quarter ended December 31, 2015, beating analyst estimates. Shares in the company jumped over 3 per cent after Infosys maintained its annual sales growth guidance at 7-9 per cent.
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Infosys Q3 Profit at Rs 3,250 Crore, Beats Estimates

Infosys reported a profit of Rs 3,250 crore on sales of Rs 13,800 crore in the quarter ended December 31, 2014, beating analyst estimates. Shares in the company jumped over 5 per cent after Infosys maintained its annual sales growth guidance at 7-9 per cent.

Market analyst Ambareesh Baliga told NDTV that maintenance of growth guidance is good news for investors.

Brokers polled by NDTV estimated Infosys to report a net profit of Rs 3,151 crore on sales of Rs 13,760 crore, which compares with a profit of Rs 3,096 crore on sales of Rs 13,342 crore in the September quarter.

Commenting on its Q3 results, CEO Vishal Sikka said, "We are excited by several breakthrough results in Q3. Our "renew and new" strategy, is being received well by our clients and our ecosystem and we are already seeing its early adoption."

This is the first time Infosys, India's second biggest outsourcer, has reported its quarterly numbers during market hours.

Most IT companies are expected to report weak numbers for the December quarter because of the strength in US dollar, which has impacted earnings in currencies such as the pound, euro and Australian dollar. The December quarter is seasonally weak because of holidays in the key markets of North America and Europe, which is also likely to weigh on revenue growth, analysts say.



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