Infosys Q3 net profit rises 13 per cent to Rs 3,250 crore, beats estimates

Infosys Q3 net profit rises 13 per cent to Rs 3,250 crore, beats estimates, Infosys, the IT services major, posted a 13 per cent rise in quarterly net profit on Friday, beating estimates, as it won more outsourcing contracts from Western clients.

Infosys, which is the country's second-largest software services exporter providing IT services to clients including Apple, Wal-mart Stores and Volkswagen, said profit in the quarter ended December 31, 2014 rose to Rs 3,250 crore (US $520.9 million) from Rs 2,875 crore in the same year-ago quarter.

Analysts, on average, were expecting a profit of Rs 3,153 crore, according to a Thomson Reuters survey.

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 IT services major won 59 new clients in the December quarter, it said in a statement.