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Infosys to announce third quarter results on January 11

Infosys is expected to post net profit of Rs 4,088.60 crore and revenue of Rs 20,292 crore in the December quarter, according to analysts polled by Reuters.

twitter-logo BusinessToday.In   New Delhi     Last Updated: January 2, 2019  | 14:47 IST
Infosys to announce third quarter results on January 11

IT bellwether Infosys said on Wednesday that it will release its December quarter earnings result on January 11, 2019.

"Infosys will announce its results for its third quarter ended December 31, 2018 on January 11, 2019 around 4.15 p.m IST (Indian Standard Time)," the country's second largest software exporter said in a filing to the Bombay Stock Exchange.

Following the earnings announcement, the leadership team of the IT major will be part of a common press conference at 4:45 p.m. IST, the company informed the exchange.

The company will conduct a single 60 minute conference call at 6:00 p.m. IST, where the senior management will discuss the company's performance and answer questions from participants.

Infosys is expected to post net profit of Rs 4,088.60 crore and revenue of Rs 20,292 crore in the December quarter, according to analysts polled by Reuters.

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During the September quarter, the Bangalore-headquartered firm reported 13.8 per cent sequential growth in the consolidated profit at Rs 4,110 crore, while consolidated revenue grew 7.7 per cent to Rs 20,609 crore compared to Rs 19,128 crore in the previous quarter.

The experts are expecting broadly good results from IT space thanks to the depreciating rupee against US dollar, but cross-currency effects may partially offset their margins.

Infosys' larger rival TCS, the country's largest software company, will kickstart the IT sector's third quarter earnings season of the current fiscal by reporting its results on January 10.

Historically, either of TCS or Infosys starts the earnings season for the entire listed space for many years. The due will set the guidance for the information technology sector which reflects the overall economic sentiments and business environment.

According to market analysts, the December quarter is generally tepid for Indian IT companies due to holidays and budget revisions by global clients.

Meanwhile, shares of the Large cap company were trading at Rs 667.90 apiece, up 0.49 per cent, against previous closing price of Rs 664.65. During the day's trade so far, scrip touched an intra-day high and low of Rs 673.70 and Rs 662.45, respectively.

Edited by Chitranjan Kumar

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