Business

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.

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