Infosys, the country's second largest company in the information technology (IT) sector, grew 16.6 percent to Rs 5,197 crore for the quarter ended December 2020. The company released its quarterly results on Wednesday. The company had a net profit of Rs 4,457 crore in the year-ago period. During this period, the company's income grew by 12.3 percent to Rs 25,927 crore as compared to Rs 23,092 crore a year ago. At the same time, there has been a growth of 5.5 percent in income over the previous quarter. Income growth on the basis of constant currency has been 6.6 percent. During this period, expenses have increased by more than 7 percent.
The company said operating margin stood at 25.4 percent during the third quarter. It registered an increase of 350 basis points over the same quarter last year. The company raised the revenue growth estimate for the year 2020-21 from 4.5 to five percent on the basis of fixed currency. The company had earlier projected two to three percent revenue growth in October. Along with this, the company has projected an increase in margins between 24 and 24.5 per cent. Salil Parekh, Chief Executive Officer (CEO) and Managing Director (MD) of the company said, "The Infosys team has done another quarterly. Relevant strategy for consumers and focus on digital conversion has led to better growth. "The company said the total value of its big deals reached an all-time high of $ 7.13 billion. There was also a drop in the number of people leaving the company during the quarter. In IT services, the rate has come down from 15.8 percent to 10 percent.
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| credit: india tv |
Infosys stock today witnessed an upward trend amid anticipation of better results. Infosys stock closed up over 1 per cent amid market pressure. The results came after the market closed.
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