Infy’s puts up healthy performance despite seasonally weak quarter

India’s second largest software company Infosys reported its Q3FY17 results today.

The company's consolidated revenue increased by 8.6 per cent on a YoY basis. On a QoQ basis, the revenue decreased marginally by 0.2 per cent to Rs 17,273.

Its EBIT on a YoY basis surged by 9.47 per cent, while on a QoQ basis, it increased by 0.58 per cent. 

On the margin side, EBIT and PAT margin were 25 per cent and 21.4 per cent, respectively, for the quarter. The PAT margin contracted by 32.26 bps on a YoY basis.

The company's attrition had declined sequentially by 0.8 per cent on standalone basis and 1.6 per cent on a consolidated basis.

The company revised its FY17 revenue guidance to 8.4 - 8.8 per cent from 8 - 9 per cent on constant currency basis.

"Taking into account seasonal and other additional headwinds for the quarter, our Q3 revenue performance was broadly in line with our expectations," said Vishal Sikka, CEO and MD.

Infosys Ltd provides business consulting, technology, engineering and outsourcing services. Its end-to-end business solutions include consulting and systems integration comprising consulting, enterprise solutions, systems integration and advanced technologies; business information technology (IT) services consisting application development and maintenance, independent validation services, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management.

The scrip opened at Rs 1026.35 and plunged 6 per cent post the results to the day's low of Rs 964.