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Strong Q3 numbers: Infosys raises revenue guidance for 2020-21

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Nilanjan Roy, CFO, Infosys, said the focus on optimising operational costs and sub-contract costs helped. “We definitely benefited from not having travel expenses,“ Roy said.

Infosys on Wednesday upped revenue guidance for 2020-21, saying it could increase by 4.5-5.5% in constant currency terms, better than the 2-3% projected earlier. The optimism stemmed from a strong Q3FY21 numbers in which revenues rose 5.5% sequentially to Rs 25,927 crore and net profits increased to Rs 5,197 crore, up 7.3% quarter-on-quarter. The IT major’s operating profit margins came in at a robust 25.4%.

Infosys CEO and MD Salil Parekh said the company’s capabilities in areas of digital and cloud were enabling it to win clients, including global majors such as Vanguard, Daimler and Rolls-Royce.

TCS had reported a stellar set of numbers for the December quarter, posting a net profit of Rs 8,701 crore, up 3.2% quarter-on-quarter and strong Ebit margins of 26.6%.

Nilanjan Roy, CFO, Infosys, said the focus on optimising operational costs and sub-contract costs helped. “We definitely benefited from not having travel expenses,“ Roy said.

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