Indian IT giant, Infosys, has reported its Q3 results, and the company has surpassed expectations with a net profit growth of over 13%. The company’s net profit for the quarter ended December 31, 2022 increased to Rs 5,197 crore from Rs 4,609 crore in the same quarter last year.
The company’s revenue also saw a growth of 3.3%, with total revenue in Q3 at Rs 25,927 crore, as against Rs 25,092 crore in the same quarter last year. The growth was driven by a strong performance in the company’s banking, financial services and insurance (BFSI) segment.
Infosys also revised its FY23 revenue guidance, and now expects revenue growth of 12-14% from the previous guidance of 8-10%.
stock market reacts
The stock market reacted positively to the announcement of Infosys’ third quarter results, with the company’s share price rising over 3% in early trade. This was in response to the company’s strong financial performance, which exceeded expectations. The market also reacted positively to the upward revision of the company’s FY23 revenue guidance.
Apart from the strong financial performance, Infosys also announced that it has signed a strategic partnership with a leading US-based retail company to accelerate the latter’s digital and technology transformation journey. The partnership will leverage Infosys’ expertise in areas such as AI, automation and cloud to help the retail company improve its customer experience and operations.
Infosys CEO, Salil Parekh said, “We are pleased to announce another quarter of strong financial performance driven by strong demand for our digital services. Our strategic partnership with a leading retail company is a testament to our expertise in digital transformation and our ability to help our customers navigate the rapidly changing digital landscape.”
frequently Asked question:
Q1: What is Infosys?
Infosys is a multinational Indian company that provides business consulting, information technology and engineering services.
Q2: How is Infosys doing financially?
Infosys is performing well financially, as seen in the recent third quarter results, where the company beat expectations with a net profit growth of over 13%. The company also revised its FY23 revenue guidance, expecting 12-14% growth