Beating the analyst estimates India’s second largest IT services provider Infosys reported a 7 per cent growth in its net profit for third quarter of the financial year 2017 ended December 30, 2016. The net profit of the Bengaluru-based company stood at Rs. 3,708 crore for the October-December period.
The company’s revenue for the period under review was in-line with the market estimates and stood at Rs. 17,273 crore for the quarter ended December 31, 2016 registering a growth of 8.6 per cent when compared to the same period last year.
On Thursday India’s largest IT exporter Tata Consultancy Services also announced a strong quarterly performance beating market estimates with a 11 per cent increase in net profit at Rs 6,778 crore.
On a quarterly basis the net profit of Infy witnessed a growth of 2.8 per cent while the revenue growth declined by 0.2 per cent.
