Infosys Q3 results: Net profit jumps 16.6%. FY21 revenue growth guidance raised1 min read . Updated: 13 Jan 2021, 04:22 PM IST
- Revenues were $3,516 mn, growth of 8.4% YoY and 6.2% QoQ
- Infosys raised FY21 revenue growth guidance to 4.5%-5% in constant currency while increasing operating margin guidance to 24%-24.5%
Infosys reported better-than-expected earnings performance in the third quarter with revenues going up to ₹25,927 crore while profit rose 16.6% to ₹5,197 crore. Infosys raised FY21 revenue growth guidance to 4.5%-5.0% in constant currency while increasing operating margin guidance to 24.0%-24.5%.
Commenting on the Q3 earnings, CEO Salil Parekh said: "The Infosys team has delivered another quarter of excellent results. Execution of client relevant strategy focused on digital transformation continues to drive superior growth, well ahead of the industry. The scale of new client partnerships with leading global companies such as Vanguard, Daimler and Rolls-Royce demonstrate the depth of digital and cloud capabilities of Infosys. The commitment and skills of our employees to support and drive the digital journey of clients are matters of great pride for me."
Highlights of Infosys Q3 results:
Q3 revenues grew year-on-year by 8.4% in USD; grew by 6.6% in constant currency
Digital revenues cross 50% of total revenue, year-on-year growth of 31.3% in constant currency
Q3 operating margin at 25.4%, year-on-year increase of 350 bps
Q3 net profit at $705 million, year-on-year growth of 12.6%
Continued strong Q3 free cash flow at $772 million, year-on-year growth of 15.1%; FCF conversion at 109.0% of net profit
Q3 voluntary attrition for IT services declined to 10.0% from 15.8% in Q3 20