Infosys, Indian IT's bell weather, reported Q3 results with a net profit of Rs 2,369 crore for the quarter ended December 2012. In the same quarter last year the company had a net profit of Rs 2,372 crore. The company's revenue increased to Rs 10,424 crore from Rs 9,298 crore in the corresponding quarter last fiscal.
It is after eight quarters that Infosys has increased its quidance-a good sign for the Indian IT. The company. Against the trade-pundits' estimation, the company has been able to have 1.8% uptake in pricing, though it was more due to portfolio shift. Now the company expects FY13 sales at Rs 40,750 crore against Rs 39,580 crore earlier. Its FY13 dollar revenues are also expected to be at $7.45 bn vs $7.34 bn earlier.
S. D. Shibulal, CEO and managing director of Infosys expressed the hope of gaining customer confidence despite the challenging environment. He, however, was cautious in terms of making predictions for Q4 which he thinks would be a 'soft quarter'.
North America was the biggest contributor with 61% in Q3 revenue while India contributed 2.2 % and Europe accounted for 24 % in Q3 revenues. According to the company, US spend on engineering and management services impacted the revenues largely along with healthcare.
In the last quarter, Infosys added 89 new clients out of which 36 were from Lodestone.
Further, it added 1,868 employees versus 3,266 employees year-on-year.