Infosys reports net profit of Rs 58bn ($774m) for Q3 FY2022

Infosys Q3 FY2022 results : Indian IT giant Infosys has reported a net profit of INR 5,809 crores ($774 million) for the third quarter of the fiscal year 2022 (Q3 FY2022) that ended 31 December 2021, an increase of 11.7%, compared to INR 5,197crores ($705 million) reported in Q3 FY2021.

In the second quarter of FY2022, the company made INR 5,421 crores ($733 million) in net profit.

The diluted earnings per share for Infosys in Q3 FY2022 were $0.18 (INR 13.83), an increase of 13.1% compared to $0.17 (INR 12.23) in the same quarter of the previous fiscal year.

Infosys Q3 FY2022 revenues were INR 31,867 crores ($4.25 billion), an increase of 21.5%, compared to INR 25,927 crores ($3.51 billion) in the same quarter of the previous fiscal year. Its revenues for Q2 FY2022 were INR 29,602 crores ($4 billion).

Infosys had bagged $2.53 billion worth of contracts in Q3 FY2022.

Infosys Q3 FY2022 results : Indian IT giant reports net profit of Rs 58bn ($774m). Photo courtesy of Infosys Limited.

Commenting on Infosys Q3 FY2022 results, Salil Parekh — CEO and MD, said: “Our strong performance and market share gains are a testament to the enormous confidence our clients have in us to help them in their digital transformation. This stems from four years of sustained strategic focus on areas of relevance for our clients in digital and cloud, continued re-skilling of our people, and deep relationships of trust that our clients have with us.

“This is reflected in an upgrade in our revenue guidance to 19.5%-20.0% for FY22. We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations.”