Infosys Q3 net profit jumps 13% on-year, revenue rises 20%, in-line with estimates; attrition drops

Infosys on Thursday reported consolidated profit of Rs 6,586 crore for the quarter ended 31 December 2023. The company’s net profit jumped 13% on-year. Infosys’ consolidation revenue for the quarter came in at Rs Rs 38,318 crore, up 20% on-year. Infosys board revised FY23 revenue guidance to 16.0%-16.5%, while FY23 operating margin guidance has been retained at 21%-22%. Infosys’ attrition rate declined further sharply at 24.3%. The IT major made new additions of 1,627 employees on a sequential basis. Infosys shares closed nearly one per cent higher at Rs 1,482 apiece on the BSE ahead of its Q3 results announcement.

In constant currency terms, on-year revenue growth was 13.7%. Digital revenue comprised 62.9% of overall revenues and grew at 21.7% in constant currency. Large deal total contract value for the quarter was the strongest in the last eight quarters at $3.3 billion. “Our revenue growth was strong in the quarter, with both digital business and core services growing.