Infosys Q3 results: 7 key takeawaysInfosys, the country's second-largest software exporter, has reported 6.6% year-on-year (Y-o-Y) jump in profit at Rs 3,465 crore for the third quarter of the financial year.
The net profit number was better than ET Now estimate of Rs 3,398 crore. The company had reported net profit of Rs 3,351 crore for the October-December period of last financial year.
Reacting to the news, shares of Infosys climbed over 5% in a weak market. It was also a top gainer among the 30 Sensex components.
Here is a list of top seven takeaways from Infosys' Q3 results:
Rupee revenue
Infosys' revenue is primarily derived from software development and related services and from licensing of software products. Its revenues were up 1.7% to Rs 15,900 crore in the third quarter, 2015-16, from Rs 15,635 crore recorded in the previous quarter. It was slightly above ET Now estimate of Rs 15,758.
Dollar revenue
For the October-December quarter, Infosys posted a net profit of $524 million, compared with $522 million in the year-ago period. Revenue jumped 8.5% to $2.41 billion. On a sequential basis, revenue grew 0.6%.
Guidance
Infosys upped the ante by guiding for a strong FY16 compared to its peers. Infosys increased FY16 revenue guidance to 12.8-13.2% in constant currency terms, and 16.2-16.6% in rupee terms on December 31, 2015 exchange rates.
Investing in artificial intelligence
In December, Infosys announced their participation in OpenAI, a non-profit organization dedicated to developing and advancing Artificial Intelligence, bringing the best AI talent in the world together in the interest of all of us. This initiative adds an important new dimension to Infosys ongoing efforts in AI
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