(Reuters) - Indian IT services bellwether Infosys Ltd on Friday reported a 29.6 percent fall in third-quarter net profit, well below market expectations.
Profit attributable for the three months through Dec. 31 was 36.09 billion rupees ($511.94 million), missing the average estimate of 41.31 billion rupees from 25 analysts compiled by Refinitiv Eikon.
Last year, it made a profit of 51.29 billion rupees, helped by tax benefits from the firm's deal with the U.S. Internal Revenue Service.
India's second-biggest software services exporter by market cap after Tata Consultancy Services Ltd said revenue from operations in the quarter rose 20.3 percent to 214 billion rupees.
($1 = 70.4960 Indian rupees)
(Reporting by Arnab Paul and additional reporting by Krishna V Kurup in Bengaluru; editing by Christopher Cushing and Jason Neely)
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