NEW DELHI: IT service major Infosys on Thursday posted 13.4% jump in its consolidated net profit for the third quarter ended December 2022.
The company reported a net profit of Rs 6,586 crore as against a profit of Rs 5,809 crore posted in same quarter last fiscal.
The results beat street estimates on both profit and revenue.
"Year-on-year growth was in double digits for most business segments and geographical regions in constant currency terms," Infosys said in a statement.
Revenue growth
The Bengaluru-based IT firm logged a 20% year-on-year increase in consolidated revenue in the third quarter of the current fiscal at Rs 38,318 crore. It also raised full year revenue guidance to 16-16.5% against the previously projected band of 15-16%.
Infosys saw its large deal signings rising to $3.3 billion, its strongest in the last eight quarters, up from $2.53 billion, year.
Infosys CEO and MD Salil Parekh said the company continues to gain market share as a trusted transformation and operational partner for clients, as reflected in the large deals momentum.
"Our revenue growth was strong in the quarter, with both digital business and core services growing. This is a clear reflection of our deep client relevance, industry-leading digital, cloud, and automation capabilities, and the unrelenting dedication of our employees," he said.
Strong deal momentum
Infosys saw its large deal signings rising to $3.3 billion, its strongest in the last eight quarters, up from $2.53 billion, year.
Gross addition of clients during the quarter rose to 134, from 111 a year ago.
"As reflected in the large deals momentum, we continue to gain market share as a trusted transformation and operational partner," Salil Parekh said.
He further added that the company's end-to-end capabilities and global scale make them a preferred choice as clients look at consolidating vendors.
