Infosys Q3 profit rises 33 percent

Infosys Ltd posted net profit of Rs.2,372 crore (Rs.23.7 billion) for the third quarter (October-December) of this fiscal (2011-12), registering a record 33 percent year-on-year (YoY) growth as per the Indian accounting standard.

In a regulatory filing on Thursday, the IT bellwether said its consolidated revenues for the quarter (Q3) under review increased to Rs.9,298 crore (Rs.92.98 billion), posting 31 percent YoY.

Under the International Financial Regulatory System (IFRS), net income grew 15 percent YoY to $458 million and gross income to $1.81 billion, up 14 percent YoY for the third quarter.

Infosys Ltd marginally revised its revenue guidance for this fiscal (2011-12) 1.5 percent upwards to Rs.34,284 crore (Rs.343 billion).

In a regulatory filing on Thursday, the IT bellwether said its consolidated revenue for this fiscal (FY 2012) would be in the range of Rs.34,273-34,294 crore as against Rs.33,795 crore projected in October 2011, reflecting year-on-year (YoY) growth of 24.7 percent.

Under the International Financial Regulatory System (IFRS), gross income is expected to be $7.03 billion, projecting 16.4 percent YoY growth but tad lower than $7.14 billion guidance given in October.

For the fourth quarter (January-March) of this fiscal, consolidated revenue will be Rs.9,402 crore, an increase of 30 percent YoY as per the Indian accounting standard.

Under the IFRS, gross income is expected to be $1.8 billion, an increase of 13 percent YoY.