Software giant Infosys on Friday posted a 7% jump in its consolidated net profit for the October-December quarter. The IT major’s net profit now stands at Rs 3,708 crore, up from Rs 3,465 crore during the same quarter last year.
Infosys Chief Executive Officer and Managing Director Vishal Sikka said the figures were more or less what they had expected. “Taking into account seasonal and other additional headwinds for the quarter, our Q3 revenue performance was broadly in line with our expectations,” he added. For the calendar year 2016, the company’s revenues crossed $10 billion (Rs 66,000 crore approximately), said Sikka.
In last year’s third quarter, the company had posted 8.6% increase in its consolidated revenue from Rs 15,902 crore to Rs 17,273 crore, reported PTI. The value of its liquid assets stood at Rs 35,697 crore on December 31, 2016. It was worth Rs 35,640 crore on September 30 last year.
The Bengaluru-based company also revised its current fiscal constant currency revenue guidance to 8.4%-8.8% against the 8%-9% estimate it made earlier. Constant currencies are exchange rates that eliminate the effects of exchange rate fluctuations to get an accurate idea about a firm’s yearly performance. Following this, the company’s shares fell 0.61% to Rs 993.95 on the Bombay Stock Exchange in the morning trade, reported NDTV.
However, the firm’s attrition declined sequentially by 1.6% on consolidated basis. Besides, Infosys also appointed Ravikumar S deputy chief operating officer with immediate effect. He will head the global delivery organisation and monitor strategic business decisions.