Infosys Q3 net profit rises 13 per cent to Rs 3,250 crore, beats estimates

Infosys, the IT services major, posted a 13 per cent rise in quarterly net profit on Friday, beating estimates, as it won more outsourcing contracts from Western clients.

Infosys, which is the country's second-largest software services exporter providing IT services to clients including Apple, Wal-mart Stores and Volkswagen, said profit in the quarter ended December 31, 2014 rose to Rs 3,250 crore (US $520.9 million) from Rs 2,875 crore in the same year-ago quarter.

Analysts, on average, were expecting a profit of Rs 3,153 crore, according to a Thomson Reuters survey.

Infosys, which has been losing market share and battling high staff attrition rates in the last few quarters, is looking to boost growth by focusing on high-margin services including artificial intelligence and automation.

The IT services major won 59 new clients in the December quarter, it said in a statement.

(Reuters)