Infosys performed better than expected.
Infosys, the country’s second largest IT company and included in the 5 lakh crore market cap club, has announced the third quarter results.
- January 13, 2021, 6:15 PM IST
Infosys had a net profit of only Rs 4466 crore in the third quarter of 2019-20
The net profit of Infosys was only Rs 4466 crore in the third quarter of 2019-20. The revenue was Rs 23,092 crore in the same period last year. The company raised Revenue Growth Guidance forecast to 4.5% -5% for FY 2020-21 on Revenue Growth Guidance. At the same time, the company’s operating margin guidance increased to 24% -24.5%.
Also read- Cleaning of WhatsApp, new updates will not change any data sharing practice with FacebookOn the impressive Q3 result of Infosys, the company’s CEO and MD Salil Parekh said that the Infosys team has given excellent results in another quarter. These encouraging results have come from the company focusing on client-based strategy and digital transformation. Let us tell you that during the December quarter in the stock market, Infosys stocks have increased by 24.6%. At the same time, in the year 2020, the company’s stocks have risen 71.8%.
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Wipro also released quarterly results
IT company Wipro has also announced the third quarter results. The company’s integrated net profit rose 20.8 per cent to Rs 2,968 crore.