Infosys Reports 13 Percent Rise in Q3 Profit; Announces New Clients

Infosys Ltd, India's second-largest software services exporter, posted a 13 percent rise in quarterly net profit on Friday, beating estimates, as it won more outsourcing contracts from Western clients.

Infosys, which provides IT services to clients including Apple Inc, Wal-mart Stores and Volkswagen, said profit in the quarter ended December 31 rose to Rs. 3,250 crores ($520.9 million) from Rs. 2,875 crores in the same year-ago quarter.

Analysts, on average, were expecting a profit of Rs. 3,153 crores, according to Thomson Reuters I/B/E/S.

Infosys, which has been losing market share and battling high staff attrition rates in the last few quarters, is looking to boost growth by focusing on high-margin services including artificial intelligence and automation.

The company won 59 new clients in the December quarter, it said in a statement.

© Thomson Reuters 2015