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Infosys Q3 Net Profit Drops by 30%

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Infosys Q3 Net Profit Drops by 30%
Team Outlook Money - 11 January 2019

New Delhi, January 11: IT major Infosys’ consolidated net profit for the third quarter (Q3) dipped by 29.61 per cent for the October-December quarter of 2018-19, a BSE filing by the company said on Friday.

The company posted consolidated net profit of Rs 3,610 crore for the Q3 of 2018-19 compared to Rs 5,129 crore clocked during the corresponding quarter in 2017-18.

However, the company’s revenue during the quarter shot up to Rs 21,400 crore compared to Rs 17,794 crore during a year ago period.

The company, on Friday, also announced a share buyback under open market route of Rs 8,260 crore.

It closed the day’s trading at the BSE at Rs 683.70 per share, up 0.58 per cent at 4 p.m.

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