The country's second-largest software services firm Infosys today posted a 21.4 per cent rise in net profit and raised its revenue growth outlook for this financial year as improving US and European economies revive demand for outsourcing services.
The company's net profit stood at Rs 2,875 crore in the third quarter ended December 31 as against Rs 2,369 crore a year earlier. Revenue rose 25 per cent to Rs 13,026 crore from Rs 10,424 crore, Infosys said in a statement.
"Our Q3 was a decent quarter. We grew by 1.7 per cent in Q3. Our revenue was USD 2.1 billion. The volumes went up by 0.7 percent. The onsite came down by 3.4 per cent and the offshore went up by 2.6 per cent, very much in line with some of the initiatives which we have undertaken over the last two quarters," Infosys CEO and MD S D Shibulal said.
He added that the quarter saw good client additions with 54 new customers, including a new USD 50 million client.
Infosys raised its revenue growth forecast to 24.4-24.9 per cent for the financial year ending March 31, from 21-22 per cent estimated earlier.
"We are seeing some confidence coming back to our clients but at the same time we expect the budget to be stable from last year to this year. Our clients are very focused on cost optimisation even today," Shibulal said.
Shares of the company rose 2.73 per cent to Rs 3545.35 on the BSE, while the benchmark Sensex climbed 0.76 per cent.
