Infosys net plunges 30 per cent in third quarter

Bengaluru, Jan 11 (IANS) Global software major Infosys on Friday reported Rs 3,610 crore consolidated net profit for the third quarter of fiscal 2018-19, posting nearly 30 per cent annual decline from Rs 5,129 crore in the same period a year ago.

In a regulatory filing on the BSE, the city-based IT behemoth said consolidated revenue for the quarter (Q3) under review, however, grew 20.3 per cent annually to Rs 21,400 crore from Rs 17,794 crore in the like period a year ago. Sequentially too, net profit dipped 12 per cent from Rs 4,110 crore but revenue rose 3.8 per cent from Rs 20,609 crore a quarter ago.

Under the International Financial Reporting Standards (IFRS), net income declined nearly 37 per cent annually to $502 million in Q3 from $796 million a year ago and declined sequentially 13.6 per cent from $581 million a quarter ago.

Gross income under IFRS, however, grew 8.4 percent to $2,987 million in Q3 from $2,755 million in the like period a year ago and 2.2 per cent sequentially from $2,921 million a quarter ago.

–IANSfb/mr