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Infosys Q3 results: IT major reports 7% YoY decline in net profit at Rs 6,106 crore

Infosys Q3 results: IT giant Infosys gave a consolidated report Net Profit Rs 6,106 crore for the quarter ending December 2023, showing a decline of 7% compared to the previous year quarter. The figure was slightly lower than the estimated profit of Rs 6,140 crore, according to an ET Now poll.
Income The third quarter saw a growth of 1% from operations at Rs 38,821 crore as against Rs 38,318 crore in the same quarter last year. Infosys has revised its revenue guidance to 1.5%-2% in constant currency terms from the previous 1%. -2.5%.
The company has raised its revenue forecast for FY2024 to 1.5%, but lowered the upper limit slightly to 2%. However, Infosys has maintained its operating margin target at 20-22%.
During the third quarter, revenues saw a 1% year-over-year decline in constant currency terms. Operating margin also declined 1% year-on-year for the same period.
In the December quarter report, the IT major secured deals worth total contract value (TCV) of $3.2 billion, of which 71% came from newly acquired deals.
CEO and MD, Salil Parekh expressed satisfaction over the third quarter performance, highlighting the resilience. He attributed the big deal wins to the strength of its portfolio, which includes generic AI, digital solutions, cloud services and initiatives focused on cost, efficiency and automation.
Financially, the third quarter demonstrated stable cash generation, with Free Cash Flow (FCF) witnessing a 17% year-on-year growth to Rs 5,548 crore. To convert FCF to net profit Q3 An impressive 90.6%.
Infosys There was also a significant reduction in attrition, which dropped to 12.9% on a 12-month follow-up basis. This is a notable improvement from 14.6% in the September 2023 quarter and a significant decline from 24.3% a year earlier.



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