Infosys Q3 profit rises 33 pct, beats forecast
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Infosys Ltd, India's second-largest software services exporter, reported a 33.3 percent rise in quarterly profit, beating market forecasts, as a weaker rupee helped boost margins.
Bangalore-based Infosys said on Thursday consolidated net profit for the third quarter ended December 31 rose to 23.72 billion rupees from 17.8 billion rupees a year earlier.
Revenue rose 30.8 percent to 92.98 billion rupees.
A Reuters poll of 10 brokerages had forecast a profit of 23.1 billion rupees on revenue of 92.2 billion rupees for the company, whose customers include Procter & Gamble Co and Volkswagen .
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India's $76 billion IT services industry is driven by global demand for outsourcing and competes with Accenture Plc and IBM for contracts to maintain computer systems and write software applications.
Shares in Infosys, which has a market value of about $31 billion, have fallen nearly a fifth in 2011, compared with a nearly 16 percent drop in the sector index and nearly 25 percent loss in the main 30-share BSE index .
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