Infosys December quarter earnings above expectations, jumps 6.2% y-o-y

Country's second largest software services firm Infosys on Thursday posted 6.20 per cent increase in consolidated net profit to Rs 3,465 crore for the quarter ended December 30, 2015, above Street expecations.

The Bangalore-based firm had reported a net profit of Rs 3250 crore in the year-ago period.

The consolidated revenues in the third quarter rose 15.2 per cent to Rs 15,902 crore from Rs 13,796 crore in the year-ago period, the company said.

Total Income increased from Rs 14,636 crore for the quarter ended December 31, 2014 to Rs 16,704 crore for the quarter ended December 31, 2015, the company said in a filing to the BSE.

The IT major also revised its current fiscal constant currency revenue guidance upwards to 12.8-13.2 per cent. It had, in October 2015, forecast a revenue growth of 10-12 per cent in constant currency.

Dollar revenues in the third quarter came in at $2,407 million as compared to $2,392 million logged in the September quarter of financial year 2016.

"Alongside grassroots innovation, we continue to see growing adoption of our Aikido services, bringing the power of intelligent systems, automation and software to amplify the skills and imaginations of our people," Infosys CEO and Managing Director Vishal Sikka said.

He added this combination helped the company deliver encouraging results despite the traditional seasonality of the quarter and the additional headwinds, and will strengthen the execution of its strategy towards consistent profitable growth.

Infosys had reported a net profit of Rs 3,398 crore and revenues of Rs 15,635 crore for the July-September quarter of FY16.

Net employee addition stood at 5,407, while attrition rate came in at 18.1 per cent.

The software major has appointed Punita Kumar Sinha as independent director. The company also re-appointed Jeffrey S Lehman, Independent Director of the Company for a term of two years with effect from April 14, 2016 to hold office up to April 13, 2018, and not be liable to retire by rotation.

It adopted recoupment (Claw-back) Policy.

Reacting to the numbers, shares of the company gained over 5 per cent in early trade on BSE.