Infosys net profit rises 12% in Q3 as digital push hikes demand

Infosys' consolidated net profit climbed to Rs 5809 crore in December-quarter.

New Delhi: Infosys Ltd on Wednesday reported a near 12% rise in December-quarter profit, on strong demand for its software services from global businesses transforming their digital infrastructure.

The Bengaluru-based company`s consolidated net profit climbed to Rs 5809 crore ($786.06 million), from Rs 5197 crore a year earlier.

Revenue from operations at the country’s second-biggest software services firm by revenue rose to Rs 31,867 crore. The company has also bumped up its annual revenue forecast. 

The country`s second-largest IT services firm by revenue said it expects revenue growth of 19.5%-20% on a constant currency basis for the financial year to March, compared with the 16.5%-17.5% growth predicted in October.

"We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations," Chief Executive Officer Salil Parekh said in a statement. Also Read: Kotak Mahindra Bank increases fixed deposit rates; check latest FD interest rates

India’s $194-billion IT industry has been a big beneficiary from the pandemic spurring global companies to bolster investments in services ranging from cloud-computing, digital payment infrastructure to cyber-security. Also Read: Rakesh Jhunjhunwala Portfolio Stock: Big bull exits from THIS firm; are you still holding?