Infosys Q3 Results surprise Industry Experts

TNI Bureau: India’s Software major Infosys’ third quarter Q3 results for the period October to December came as a surprise for the business analysts as the profit was much better than the estimates of Rs. 2,244 crore. The profit of the firm was Rs. 2,369 crore during that period.

The results came as a positive sign for the firm, which has been struggling in the US and European countries. Its shares might have closed lower for the last three days on the BSE, but its forecast for FY13 is seen at $7.45 billion, better than $7.34 billion, which was predicted by the management earlier.

The performance during the period was very good despite slow economy. The December quarter performance is likely to get more profits. The firm said that its sales rose 5.7 per cent to Rs. 10,424 crore from Rs. 9,858 crore in the previous quarter. The sales jumped 12 per cent from Rs. 9,300 crore a year earlier. The business analysts had estimated the earnings would be Rs. 10,149 crore.