Analysts at HDFC Securities projected profits of Rs 5,182 crore, including the tax reversal, which implies they expected Infosys to report profit growth of 1 percent, excluding the tax reversal component.
Infosys explained that during the December 2017 quarter, it had signed an Advance Pricing Agreement with the United States administration that had led to reversal of income tax expense provision of Rs 1,432 crore.
In US dollar terms, Infosys' net profit grew to USD 796 million in the said quarter, while revenues were at USD 2.7 billion from the year-ago period.
Revenue for the nine months ended 31 December 2017 stood at Rs52,439 crore, showing an year-on-year growth of 2.1 per cent in reported terms and 5.6 per cent growth in constant currency terms.
The company posted consolidated revenue of $10.2 billion or Rs 68,484 crore for fiscal 2016-17.
UCF fans ask Alabama for a home-and-home football series The college football season ended on Monday night, with Alabama claiming their fifth national championship in the last decade. A future meeting of the teams would do nothing to change the outcome of 2017, but it'd still be fun, and fun things are good.
In rupee terms, there was a growth of 1.3%.
"On account of the conclusion of an APA (Advance Pricing Agreement) with the US Internal Revenue Service during the quarter, net profit for Q3 increased", it added in the statement.
Investors and market watchers are expecting to hear from Infosys' new CEO Parekh on his strategy to spur growth for the company that is trying to put behind the nearly year-long public standoff between its high-profile promoters and the past leadership.
The company also had written down an unspecified amount invested in its innovation fund investment DWA Nova LLC, which impacted its net profit by $11 million (Rs 70 crore). "We had 8 per cent year-on-year growth and 24.3 per cent operating margin with $593 million of free cash flow".
Newly appointed Infosys Chief Executive Officer and Managing Director Salil Parekh said on Friday he will stay connected with the founders so the company stays true to its vision and beliefs, and announced he will outline a new strategy in April.
"We are progressing towards stability and are well positioned to serve our clients in the new areas of demand", Parekh said in a press release, after close of Mumbai trading on Friday.
Recalling his pleasant interaction with the founders at the Infosys Prize event two days ago, Parekh said he would continue to have a cordial relationship with them.
Chief Financial Officer M.D. Ranganath said operating margins were stable on improvement in efficiency parameters.
Parekh's appointment came after several months of public spat between the founders and Sikka along with some board members, on issues of corporate governance and transparency.
COO Pravin Rao said: "Increased adoption of our digital offerings and new services helped stabilize price realization. We also executed the share buyback of Rs 13,000 crore in line with our capital allocation policy", he added.
Intel to ship 802.11ax chipsets in 2018 And it's good to know that 802.11ax is coming - but it still has a ways to go before we're using it to connect to the web. The first 802.11ax chips should arrive this year, but mass adoption will occur in 2019, he added.
Merseyside Fire & Rescue Service was called to the vehicle park at Kings Dock at 4.42pm and crews were on the scene at 4.50pm. The four-day event was due to finish with Sunday evening's show where around 4,000 people were expected.
Rumors had been swirling all day, but at Nintendo Direct Mini, Dark Souls: Remastered was formally announced for the Switch. According to Dark Souls Remastered's store page , all Steam owners of Dark Souls: Prepare To Die will get a 50% discount.
DUP leader Arlene Foster said: "This is clearly a hard time for not only James but for Cathy, his wife and his children". Her website states this childhood experience gave her "a unique introduction to people from all walks of life".
Available through two "Waves", Wave 1 of the Battle Pack will include Aegislash and Support Pokemon Mega Rayquaza and Mimikyu. Since the Direct appeared this morning, your friends at Mammoth Gamers have summarized the biggest stories to come out.
While the White House has pushed back against the book, " Fire and Fury " has been a best seller since it was released last week. President Donald Trump Trump responded at the time by slamming Bannon in a fiery statement, saying Bannon had " lost his mind ".
President Moon Jae-in has emphasized that the agreement is not accepted by the general public in Korea and called it "flawed". Those opposed to the 2015 deal want Japan to take legal responsibility and provide due compensation.
William and Kate's wedding party was publicly announced in February 2011 , almost two months before their April 29 wedding. Above all, don't ever forget your worth - as I've told you time and time again: you, my sweet friend, you are enough.
New Zealand named the same lineup that won the first match of the five-match series by 61 runs under the Duckworth-Lewis system. However, some splendid fifties by Shadab Khan and Hasan Ali rescued them as they managed to post a total of 246/9 on the board.
Host Seth Meyers said "Hollywood Foreign Press" sounds like three words created to infuriate Donald Trump . He joked that producers asked a woman to host the show."They really did".
The Overwatch League is eSports' Ticket to the Mainstream
But for a first-round match in a new game in the esports world, 350k ranks it around the 20th most watched esports event ever. New team skins plus a host of new updates have been released, as indicated in the " Overwatch " patch notes for January 10.
U.S. travel warnings clarified
Afghanistan was placed in Level 4, "Do not travel" category for reasons that included terrorism, civil unrest and armed conflict. Meanwhile, No. 3 advisories suggest travelers reconsider trips to designated locations, while No. 4 recommends against travel.
Trump touts a poll that's awful for him
About 85 percent of Georgia voters who voted for Trump in 2016 approve of his work in his first year in office, the report said. Quinnipiac surveyed 1,106 voters from January 5-9 with a margin of error of plus or minus 3.6 percentage points.
Newcastle icon Peter Beardsley denies bullying claims
No decision has yet been made about Beardsley's long-term future at the club he graced in two separate spells as a player. A talented forward, the 56-year-old Beardsley played 59 times for England including at the World Cup in 1986 and 1990.
Trump skips parts of national anthem at football game
But when the National Anthem began to play, several social media users noticed Trump was struggling to get through the words. But as we approach midterm elections and Republicans try to court black voters, Trump may have to tread carefully.
Sony Xperia XA2 vs XA2 Ultra: What's the difference?
The Sony Xperia XA2 Ultra boasts a familiar Sony design, which isn't the most exciting out there, but it is at least functional. Around the front of the standard Xperia XA2, you get an 8-megapixel super-wide-angle lens that can capture 120-degree images.