Infosys Profit Dips 2.2% As Revenue Climbs on AI Demand
Overview
Infosys reported a 2.2% dip in Q3 net profit to ₹6,654 crore, despite an 8.9% revenue increase to ₹45,479 crore. CEO Salil Parekh cited demand for enterprise AI solutions, particularly Infosys Topaz, as a key driver for growth and client engagement, highlighting the company's focus on workforce re-skilling for AI-led expansion.
Stocks Mentioned
Profit Slips Amid Revenue Growth
Infosys on Wednesday reported a 2.2% year-on-year decline in consolidated net profit to ₹6,654 crore for the fiscal third quarter ending December. Revenue from operations, however, saw a robust 8.9% jump to ₹45,479 crore.
The IT services major's net profit fell from ₹6,806 crore recorded in the corresponding quarter last year. This sequential decline also saw profit drop 9.6% from the September quarter.
AI Solutions Drive Demand
Commenting on the financial performance, Infosys CEO and managing director Salil Parekh highlighted strong demand for enterprise AI solutions under its 'Infosys Topaz' offering as a key driver. He noted that clients increasingly view Infosys as an AI partner with demonstrated expertise.
Parekh added that the company's strategic focus on re-skilling and empowering its workforce remains central to its AI-led growth strategy, aiming to unlock business potential and enhance value realization for clients.
Market Reaction Muted
Shares of Infosys closed marginally higher at ₹1,599.05 on the BSE, up 0.07% from the previous close, following the announcement of the results after market hours.
