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Infosys sees modest growth in third quarter, despite hard economy

S D Shibulal

Bangalore: Indian IT consultancy Infosys has reported third quarter net income up marginally on revenues up 6%.

Financial Highlights

  • Revenues were $1,911 million for the quarter ended December 31, 2012; QoQ growth was 6.3% YoY growth was 5.8%
  • Revenues excluding Lodestone were $1,872 million; QoQ growth was 4.2% YoY growth was 3.7%
  • Net income after tax was $434 million for the quarter ended December 31, 2012 against $431 million for the quarter ended September 30, 2012

Other highlights:

  • The company won 8 large outsourcing deals amounting to US$ 731 million of total contract value
  • 14 new wins for Infosys' products and platforms
  • Infosys and its subsidiaries added 53 clients during the quarter
  • Gross addition of 7,499 employees (net addition of 977) for the quarter by Infosys and its subsidiaries.
  • 155,629 employees as on December 31, 2012 for Infosys and its subsidiaries
  • Completed the acquisition of Lodestone Holding AG, a leading management consultancy based in Switzerland

"We have done well in this quarter despite an uncertain environment," said S. D. Shibulal, CEO and Managing Director.

"We continue to gain confidence from a strong pipeline of large deals. However, the broader economic environment remains difficult. Even so, we remain cautiously optimistic about the January-March quarter", he added.

"We were able to maintain our margins through efficiency improvements despite increased operating expenses. We remain focused on making the right investments for profitable and sustainable growth in the longer term", said Rajiv Bansal, Chief Financial Officer.

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