January 10, 2020 / 10:51 AM / 17 days ago

Infosys quarterly profit beats estimates

Jan 10 (Reuters) - Infosys Ltd, India’s No. 2 IT services exporter, reported a better-than-expected December-quarter profit on Friday as key banking clients spent more on its software services.

The company’s net profit rose 23.5% to 44.57 billion rupees ($628.2 million) in the three months ended Dec. 31, from 36.09 billion rupees a year earlier. Revenue increased 7.9% to 230.92 billion rupees.

Analysts on average had expected the Bengaluru-headquartered company to earn 42.06 billion rupees, according to Refinitiv data. ($1 = 70.95 Indian rupees) (Reporting by Derek Francis in Bengaluru; Editing by Maju Samuel)

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