India’s second largest software services company “Infosys” has reported 11% growth in third quarter profit in his results declared on Jan 10, 2020.
Profit for Q3’20 is Rs. 4,457 Cr. Vs Rs. 4,019 Cr. last Quarter showing growth of 11.1%.
Profit for Q3’20 is Rs. 4,457 Cr. Vs Rs. 3609Cr. in Q3’19 which is 23.5% higher.
Revenue increases to Rs. 23092 Cr in Q3’20 vs Rs. 21400 Cr. in last year same period.
EPS Q3’20 is Rs. 10.51 per share vs Rs. 8.30 per share last year which is 26.6% higher than last year.
“Q3 results further underscore that we remain steadfast in our journey of sustained client relevance and deepening engagement with them, as they partner with us in navigating their next in the digital transformation era,” said Salil Parekh, CEO and MD.
“For us, this has translated into double digit growth year-to-date, leading to an increase in revenue guidance, accompanied by expanding operating margins,” he added.
EBIT of company grew by 3.1% to Rs. 5,064 Cr and margin expanded 0.20% to 21.9%.
The gross addition of clients during the quarter at 84 was lower than 96 clients addition seen in September quarter and 101 clients in December 2018.
Company has added 1 client in $100 million+ category, 4 clients in $10 million+ category & 12 clients in $1 million+ category.
Consolidated attrition rate fell to 19.6% for Q3 19-20, from 21.7% in Sep quarter 2019.
The Audit Committee found no evidence of any financial misconduct after independent investigations for allegations made by whistleblowers which can be considered as a positive news for the company.
Company has announced an interim dividend of Rs. 8 per share.
Top Brokerages have given “BUY” call on this stock.