TCS reports 8.2% growth; Infosys’ net profit dwindles by 7.3% in Q3

The country's largest software exporter on Thursday reported an 8.2 per cent growth in net profit for the December quarter at ₹11,735 crore.

The company said its revenue for the reporting quarter grew 4 per cent to ₹60,583 crore driven by strong double-digit growth in emerging markets, led by India.

The topline growth was also led by energy, resources and utilities, manufacturing, and life sciences & healthcare, the company said in a statement.

Operating margin improved by 50 bps to 25 per cent, the company said, while net margin stood at 19.4 per cent.

The company's order book stood at USD 8.1 billion, it said, adding net cash from operations stood at ₹11,276 crore.

Infosys’ net profit declines to ₹6,106 crore

Infosys posted a 7.3 per cent decline in consolidated net profit at ₹6,106 crore in the third quarter of the current financial year.

The company had posted a net profit (attributable to shareholders) of ₹6,586 crore during the same period a year ago, Infosys said in a regulatory filing. Consolidated revenue from operations of the company increased marginally by 1.3 per cent to ₹38,821 crore during the quarter under review from ₹38,318 crore in the year-ago period.

Infosys revised its revenue growth guidance for the ongoing financial year to 1.5-2 per cent from 1-2.5 per cent estimated earlier.

The company also said that its board has approved a proposal to acquire a Bengaluru-based semiconductor design service provider InSemi for about ₹280 crore.

The acquisition of InSemi is expected to close during the fourth quarter of FY24, subject to customary closing conditions, the filing said.

(With inputs from agencies)