Infosys, India's second largest software exporter, announced a rise in consolidated net profit for the quarter ended December 2017. During the quarter, the profit of the company rose 38.3% to Rs 51.29 billion from Rs 37.08 billion in the same quarter last year. On sequential basis, the company registered rose of 37.6% in the net profit.
     
Revenues for the quarter rose 3% to Rs 177.94 billion, compared with Rs 172.73 billion for the prior year period. On sequential basis, the company registered rose of 1.3% in the revenues.

The company's outlook (consolidated) for the fiscal year ending March 31, 2018 revenues are expected to grow 5.5%-6.5% in constant currency; revenues are expected to grow 6.5%-7.5% in USD terms based on the exchange rates as of December 31, 2017.

''It is a privilege for me to be appointed as the CEO & MD of Infosys, helping our clients navigate the digital future and employees build new skills and capabilities. Our Q3 performance is strong. We had 8% year-on-year growth and 24.3% operating margin with US$ 593 million of free cash flow,'' said Salil Parekh, CEO & MD. “We are progressing towards stability and are well positioned to serve our clients in the new areas of demand,'' he added.

''Increased adoption of our digital offerings and new services helped stabilize price realization. We were able to grow client relationships across revenue categories,'' said Pravin Rao, COO. ''During the quarter, we provided compensation increases and higher variable payouts to our employees. Our investments in employees continues to deliver results as reflected in lower attrition.''

''Our operating margins were stable on the back of broad-based improvement in operational efficiency parameters. Our cash generation continued to be robust during the quarter,'' said M.D. Ranganath, CFO. ''We successfully executed the share buyback of Rs. 13,000 crores in line with our capital allocation policy.''