The IT major revised and tightened its full year guidance for the third time in the year. Infy increased its lower end of the guidance to 8.4 per cent while it cut the upper end of the guidance to 8.8 per cent.
Earlier in the second quarter the company had given a full year revenue guidance of 8- 9 per cent in constant currency terms.
“Taking into account seasonal and other additional headwinds for the quarter, our Q3 revenue performance was broadly in line with our expectations,” said Vishal Sikka, CEO and MD, Infosys in a BSE filing.
For the nine months period ended on December 30, 2016 the revenue of Infosys stood at Rs. 51,364 crore registering a growth of 11.9 per cent while net profit was Rs. 10,749 crore reporting a growth of 8.6 per cent.
Commenting on the performance U B Pravin Rao, Chief Operating Officer of Infosys said, “Our continued efforts to improve employee engagement and experience resulted in a reduction in attrition. During the quarter, we added 77 clients and also added 2 clients in the $ 75mn plus revenue category.”
Infosys third quarter operating margins expanded 0.2 per cent to 25.1 per cent and net margins expanded 0.6 per cent to 21.5 per cent sequentially. The company’s attrition declined sequentially by 0.8 per cent on standalone basis and 1.6 per cent on consolidated basis. At the end of the December quarter the total number of Infosys employees stood at 199,763 people.
The company also announced the appointment of Ravikumar S as the Deputy Chief Operating Officer reporting to Pravin Rao, Chief Operating Officer, with immediate effect. In addition to his current responsibility of heading the global delivery organization, Mr. Ravikumar S. will oversee certain strategic business enabling functions and will be based in India.
