Financial Insights

Infosys publishes great results; 22.9% increase in revenue from operations

IT services giant Infosys published its third quarter results for FY 2021-22 on 12th January. Its profits increased by 11.8% as its revenue from operations increased by 22.91% to stand at Rs 31,867 crores.

“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. We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations,” said Mr. Salil Parekh, CEO and MD of Infosys.

Moreover, Mr. Parekh spoke about the company’s work with the I-T department on the I-T portal. In 2019, Infosys was given the contract to develop the new portal.

The company has served great results as its stock witnessed a gap-up opening today, although the bears managed to pull the price back down. The company’s consolidated profits for the quarter ending on 31st December 2021 stood at Rs 5,809 crores.

Following the great results, the company has upgraded its revenue guidance to 19.5-20% from its earlier estimate of 16.5-17.5%.

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