Infosys, India’s second biggest outsourcer, today reported earnings for the fourth quarter ended March 31, 2018. This is the first full quarterly numbers under its new CEO Salil Parekh, who took charge of the Bengaluru-based outsourcer in early January. Infosys reported net profit of Rs 3,690 crore in Q4, mostly in line with market estimates. Analysts polled by Reuters had on average expected Infosys to post a net profit of Rs 3,709 crore. The profit number for the March quarter is a decline as compared to previous quarter (Q3) as its March quarter profit was boosted by reversal of income tax provision of Rs 1,432 crore. Infosys had reported a net profit of Rs 5,129 crore for the quarter ended December 31, 2017.
For the March quarter, Infosys revenue from operations rose to Rs 18,083 crore, a quarter-on-quarter growth of 1.6 per cent. Operating margin in March quarter improved to 24.7 per cent from 24.3 per cent in Q3.
For FY19, Infosys guided for revenue growth of 6-8 per cent in constant currency, which is in line with market estimates.
