Infosys Reports Strong Third Quarter Results
Net Profit Surges 13.4%
Infosys, a leading global provider of IT and consulting services, has announced its financial results for the third quarter ended December 31, 2022. The company reported a 13.4% increase in net profit to INR 6,586 crore (USD 813 million) during the October-December 2022 period, compared to the same period last year.
Key Highlights
- Total revenue surged 20.2% year-on-year to INR 38,318 crore (USD 4.7 billion).
- TCV (total contract value) wins amounted to a record USD 3.2 billion, an increase of 11.6% year-on-year.
- Digital revenues accounted for 64.2% of total revenues, indicating a growing focus on digital transformation services.
- The company added 12,984 employees during the quarter, bringing its total workforce to over 350,000.
Market Response
The market responded positively to Infosys' third quarter results. The company's shares rose by over 2% in pre-market trading, reflecting investor confidence in its growth prospects. Analysts have praised Infosys' strong execution and its consistent ability to deliver solid financial performance.
Future Outlook
Infosys remains optimistic about its future prospects. The company expects to maintain its growth momentum in the fourth quarter and beyond. It anticipates continued demand for its digital services and solutions, driven by the increasing adoption of cloud computing, data analytics, and artificial intelligence.
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