Country’s second-largest software services major Infosys today reported a 16.2 per cent growth in consolidated net profit at Rs 3,597 crore for the quarter ended March 31, 2016. It had posted a net profit of Rs 3,097 crore in January-March of 2014-15, Infosys said in a BSE filing. Revenue of the Bengaluru-based firm grew 23.4 per cent to Rs 16,550 crore in the March quarter compared with Rs 13,411 crore in the same quarter of 2014-15, it added. On a sequential basis, Infosys’ net profit rose 3.8 per cent from Rs 3,465 crore in the October-December quarter while revenue was up 4.1 per cent from Rs 15,902 crore during the same period.
Reacting to the results, the stock was trading at Rs 1,172.05, down 0.87 per cent, on BSE at 1002 hours. Infosys Managing Director and CEO Vishal Sikka said: “Over the course of this year, we saw this strategy of bringing automation and innovation to our clients, on a foundation of learning and education, start to show results in the organic growth of our client relationships, in our win rates in large deals, and in the types of projects we are seeing in strategic areas where we never participated before.”
In US dollars, Infosys net profit grew 7 per cent to USD 533 million in the March quarter from USD 498 million in the year-ago period while revenues rose 13.3 per cent to USD 2.44 billion from USD 2.15 billion a year ago. For 2015-16, profit was up 1.9 per cent at USD 2.05 billion while revenues grew 9.1 per cent to USD 9.5 billion. Infosys said it expects revenue for 2016-17 to grow in the range of 11.5-13.5 per cent in constant currency and 11.8-13.8 per cent in US dollar terms, in line with industry body Nasscom’s estimate of 10-12 per cent for the fiscal.