CEO Salil Parekh said they see clients stopping or slowing down transformation programs and discretionary works particularly in financial services in mortgages, asset management, investment banking and payments and in telecom.
Infosys on Wednesday reported a 16.60 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 5,197 crore for the third quarter of the financial year 2021 (Q3FY21). The firm had posted a net profit of Rs 4,457 crore in the same period last year. On a sequential basis, the profit rose 7.3 per cent per cent from Rs 4,845 crore posted for the September 2020 quarter. The company s revenue came in at Rs 25,927 crore, up 12.27 per cent YoY and 5.52 per cent QoQ. In constant currency terms, the revenue grew 5.3 per cent which was its its highest Q3 sequential growth in 8 years. Meanwhile, on YoY basis, the figure was up 6.6 per cent. In dollar terms, the revenue for the quarter under review grew 8.4 per cent YoY and 6.2 per cent QoQ to $3,516 million.