Infosys third quarter profit up 13 percent, beats estimates

Reuters News
Posted: Jan 09, 2015 2:50 AM

MUMBAI (Reuters) - Infosys Ltd, India's second-largest software services exporter, posted a 13 percent rise in quarterly net profit on Friday, beating estimates, as it won more outsourcing contracts from Western clients.

Infosys, which provides IT services to clients including Apple Inc, Wal-mart Stores and Volkswagen, said profit in the quarter ended December 31 rose to 32.50 billion Indian rupees ($520.9 million) from 28.75 billion rupees in the same year-ago quarter.

Analysts, on average, were expecting a profit of 31.53 billion rupees, according to Thomson Reuters I/B/E/S.

Infosys, which has been losing market share and battling high staff attrition rates in the last few quarters, is looking to boost growth by focusing on high-margin services including artificial intelligence and automation.

The company won 59 new clients in the December quarter, it said in a statement.

($1 = 62.3925 Indian rupees)

(Reporting by Lehar Maan and Anya George; Writing by Nivedita Bhattacharjee; Editing by Miral Fahmy)