Bangaluru : IT major Infosys Ltd today reported that its third quarter net profit rose 23.5% year-on-year to Rs. 4,457 crore. Its revenue increased by 7.9% at Rs.23,092 crore. The company has also revised upwards FY20 revenue outlook to 10-10.5% in constant currency and Maintained FY 20 operating margin guidance range of 21%-23% and has maintained FY 20 operating margin guidance range of 21%-23%.
“Overall performance during the quarter was satisfactory on multiple counts – broad-based growth, steady increase in client metrics and healthy large deal wins”, said Pravin Rao, COO. “Large deal wins continue to be robust with growth of 56% so far this year. We had a further reduction in attrition, demonstrating the results of our continued efforts towards strengthening employee engagement and value proposition.”
“Operating margins improved further during the quarter driven by relentless cost optimization and operating leverage. Cash generation was extremely strong with cumulative free cash flow crossing $ 1.5 bn. Return on Equity increased further to 25.9% driven by margin expansion and increased shareholder payouts” said Nilanjan Roy, CFO.