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India's second largest software exporter Infosys on Wednesday reported consolidated net profit of Rs 5,809 crore for October-December 2021 quarter, which is 12 per cent higher from Rs 5,197 crore recorded during the same period of last year.
The company's consolidated revenue for the third quarter of the current financial year stood at Rs 31,867 crore, posting an increase of 23 per cent over Rs 25,927 crore recorded during the same quarter of previous year. The company's operating margin for the quarter ended December 31, 2021 was healthy at 23.5 per cent, with Free Cash Flow conversion at 92.6 per cent. "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," said Salil Parekh, CEO and MD, Infosys. "This is reflected in an upgrade in our revenue guidance to 19.5 per cent to 20.0 per cent for FY22. We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations," Parekh said in a statement. Nilanjan Roy, Chief Financial Officer, Infosys, said, "Despite the cost escalations driven primarily by supply side challenges, we delivered another quarter of healthy margins, with improved cost optimization, continued operating leverage and a stable pricing environment." "We continue to prioritise investments in talent acquisition and development and have further increased our global graduate hiring programme to over 55,000 for FY22 to support our growth ambitions," Roy added. (ANI)
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