Infosys December quarter net profit jumps 38% to Rs 5,129 crore

IT giant, Infosys on Friday announced the net profit of Rs 5,129 crore for the December quarter over reversal of tax provisions of approximately Rs 1,432 crore.

By these figues, Infosys had witnessed a jump of 37.6 per cent on a quarter-on-quarter basis and 38.3 per cent on a year-on-year basis. 

In September quarter, Infosys had reported a net profit of Rs 3,726 crore. For Q3, the firm posted revenue of Rs 17,794 crore. 

Just like TCS, Infosys Q3 profit and revenue numbers were in line with the estimates. 

Commenting on the Q3 earnings, Salil Parekh, CEO and MD of Infosys, said: "It is a privilege for me to be appointed as the CEO & MD of Infosys, helping our clients navigate the digital future and employees build new skills and capabilities. Our Q3 performance is strong. We had 8 per cent year-on-year growth and 24.3 per cent operating margin with $593 million of free cash flow."

"We are progressing towards stability and are well positioned to serve our clients in the new areas of demand," he added.

COO Pravin Rao said: "Increased adoption of our digital offerings and new services helped stabilize price realization. We were able to grow client relationships across revenue categories."

Infosys shares today ended 0.26 per cent higher at Rs 1,078 on the BSE.