Infosys Q3 Net Profit Falls 7.3% YoY To Rs 6,106 Crore, Revenues Up 1.3%

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Infosys Q3 revenues during October-December 2023 rose 1.3 per cent to Rs 38,821 crore, compared with Rs 38,318 crore a year ago

IT major Infosys on Thursday posted a fall of 7.3 per cent year-on-year in its net profit to Rs 6,106 crore for the third quarter ended December 2023 quarter. However, its revenues during October-December 2023 rose 1.3 per cent to Rs 38,821 crore, compared with Rs 38,318 crore a year ago.

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Infosys’ net profit had stood at Rs 6,586 crore in the corresponding quarter last year.

Consolidated revenue from operations of the company increased marginally by 1.3 per cent to Rs 38,821 crore during the quarter under review from Rs 38,318 crore in the year-ago period.

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Infosys revised its revenue growth guidance for the ongoing financial year to 1.5-2 pc from 1-2.5 per cent estimated earlier. The company also said that its board has approved a proposal to acquire a Bengaluru-based semiconductor design service provider InSemi for about Rs 280 crore.

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The acquisition of InSemi is expected to close during the fourth quarter of FY24, subject to customary closing conditions, the filing said.