Infosys Q3 FY2023 net profit grows by 13% YoY to Rs 65.8bn

Infosys Q3 FY2023 results : Indian IT services provider Infosys has reported a net profit of INR 6,586 crores for the third quarter of the fiscal year 2023 (Q3 FY2023) that ended 31 December 2022, which is an increase of 13.4%, compared to INR 5,809 crores in Q3 FY2022.

In the second quarter of FY2023, the company made INR 6,021 crores in net profit.

The diluted earnings per share (EPS) for Infosys in Q3 FY2023 was INR 15.7, an increase of 13.5% year-over-year (YoY) compared to INR 13.83 in the same quarter of the previous fiscal year.

Infosys Q3 FY2023 revenues were INR 38,318 crores in the reported quarter, which is a 20.2% increase compared to INR 31,867 crores in Q3 FY2022.

Infosys Q3 FY2023 results. Photo courtesy of Amrith Anandan/Wikimedia Commons.

According to the company, digital made up 62.9% of overall revenues and increased at a rate of 21.7% in constant currency.

In Q2 FY2023, Infosys’ revenues were INR 36,538 crores.

Commenting on Infosys Q3 FY2023 results, Salil Parekh — Infosys CEO and MD said: “Our revenue growth was strong in the quarter, with both digital business and core services growing. This is a clear reflection of our deep client relevance, industry-leading digital, cloud, and automation capabilities, and the unrelenting dedication of our employees.

“As reflected in the large deals momentum, we continue to gain market share as a trusted transformation and operational partner for our clients. Our end-to-end capabilities and global scale make us a preferred choice as clients look at consolidating vendors.”