MUMBAI (Reuters) - Infosys Ltd posted a flat third-quarter net profit, beating analyst expectations, as the second-largest Indian software services provider maintained margins despite higher operating costs.
Infosys, whose customers include Bank of America Corp and BT Group Plc , said profit for the three months ended December 31 was 23.69 billion rupees compared with 23.7 billion rupees a year earlier. That compares with the average estimate of 21 billion rupees in a poll of 16 analysts, according to Thomson Reuters I/B/E/S.
Revenue rose 12 percent in October-December to 104.24 billion rupees from 93 billion a year earlier. That compares with analyst estimates of 96.8 billion rupees.
COMMENTARY
RIKESH PARIKH, VICE-PRESIDENT, MARKETS STRATEGY AND EQUITIES, MOTILAL OSWAL SECURITIES, MUMBAI
"The numbers look better than estimated.
"The market was slightly predatory, given that the last two times the company has disappointed, but this time the organic guidance is better... which I think will be taken positively.
"A good start to the season."
PARAS ADENWALA, MD & PRINCIPAL PORTFOLIO MANAGER, CAPITAL PORTFOLIO ADVISORS, MUMBAI
"Some short covering can be expected. One will see improvement in Infosys in particular and for IT sector in general. My sense is that de-rating would stop in a while as bottom has been formed."
(Reporting by India Equities team; Editing by Ranjit Gangadharan)
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