Mumbai, Jan 12 : Infosys, India’s second-largest IT services company, Today  reported a 11.77 per cent rise in its consolidated net profit for the quarter ended December 31, 2021 at Rs 5,809 crore on the back of robust deal momentum.
The company, which had reported a PAT of Rs 5197 crore in the corresponding quarter last fiscal, has revised its revenue guidance upwards for this fiscal to 19.5-20 per cent, on the back of a significant sequential growth of 7 per cent in Q3 FY 2022.
Infosys reported a 22.91 per cent increase in its revenues at Rs 31,867 crore during the October-December 2021 quarter as compared to Rs 25,927 crore in Q3 FY2021.
“Infosys delivered a strong Q3 performance with sequential growth of 7 per cent in a seasonally weak quarter and year-on-year growth of 21.5 per cent in constant currency. Growth remained broad-based and deal momentum robust, with digital transformation rapidly scaling across verticals and regions,” the company said in a regulatory filing.
Commenting on the company’s performance, Infosys CEO and Managing Director Salil Parekh said, “Our strong performance and market share gains are a testament to the enormous confidence our clients have in us to help them in their digital transformation. This stems from four years of sustained strategic focus on areas of relevance for our clients in digital and cloud, continued re-skilling of our people, and deep relationships of trust that our clients have with us.”
He noted that this has reflected in an upgrade in the company’s revenue guidance to 19.5-20 per cent for FY22.
“We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations,” Parekh added.
The company said that large deal wins accelerated with TCV of USD 2.53 billion in Q3. The operating margin for the quarter was healthy at 23.5 per cent, with free cash flow conversion at 92.6 per cent.
“Our talent strategy continued to be a key focus area marked by efforts to further strengthen employee skilling, and well-being while nurturing our workforce to fulfill client requirements,” he added.(UNI)