Infosys Ltd has reported a net profit of Rs 3250 crore for the quarter ended December 31, 2014 as against a net profit of Rs 2875 crore in the same period last year. Revenues for the company, at Rs 13796 crore, went up by Rs 770 crore in the given period.
The company reported a growth in all its business segments barring retail, consumer packaged goods and logistics (RCL) and growth markets where ther revenues dropped by Rs 7 crore, to Rs 2184 crore and Rs 25 crore, to Rs 1315, respectively. Financial services and insurance continue to lead with revenues of Rs 4032 crore in the third quarter ended December 31, 2014 as against Rs 3814 crore in the corresponding quarter of last year.
Revenues from manufacturing, energy and healthcare went up to Rs 3039 crore, Rs 2245 crore and Rs 981 crore, respectively.
Vishal Sikka, CEO and Managing Director, Infosys Ltd 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”.
He further added, “Based on our strong performance, we are intensifying our efforts to deepen employee engagement, client ecosystem and strengthen our foundation of education as we build a next-generation services company that innovates for consistent profitable growth.”
Commenting on the muted sequential growth, Rajiv Bansal, Chief Financial Officer, Infosys Ltd said, “Our sequential revenue growth in Q3 was adversely impacted to the extent of 1.8% due to USD appreciation against other major currencies”. “We made required investments keeping in mind short-term priorities and long-term aspirations”.
The company also announced an expansion of its innovation fund. It said, "The company has expanded its innovation fund from the current $ 100 million to $ 500 million to support the creation of a global eco-system of strategic partners."
The top level management changes in the company continue with its Chief Risk & Compliance Officer and Company Secretary Parvatheesam K. stepping down from his post effective January 10, 2015.
The company also announced that shareholders have approved the appointment of Jeffrey Lehman and John Etchemendy as independent directors on its board.
The share price of Infosys reacted to the positive results and were trading at Rs 2070.25 per share, or up by 4.85% on the Bombay Stock Exchange's Sensex at 1:16 pm.
The company said that it added 59 clients in the third quarter. The total employee base of the company stood at 1,69,638, an addition of 13,154 employees during the December quarter.
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