January 11, 2019 / 11:00 AM / 5 months ago

India's Infosys Q3 profit falls 29.6 pct, misses estimates

Jan 11 (Reuters) - Indian IT services bellwether Infosys Ltd on Friday reported a 29.6 percent fall in third-quarter net profit, well below market expectations.

Profit attributable for the three months through Dec. 31 was 36.09 billion rupees ($511.94 million), missing the average estimate of 41.31 billion rupees from 25 analysts compiled by Refinitiv Eikon.

Last year, it made a profit of 51.29 billion rupees, helped by tax benefits from the firm’s deal with the U.S. Internal Revenue Service.

India’s second-biggest software services exporter by market cap after Tata Consultancy Services Ltd said revenue from operations in the quarter rose 20.3 percent to 214 billion rupees.

$1 = 70.4960 Indian rupees Reporting by Arnab Paul and additional reporting by Krishna V Kurup in Bengaluru; editing by Christopher Cushing and Jason Neely

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below