Total IT services revenue was at Rs 13,682 cr versus Rs 13,469 cr in the preceding quarter and Rs 13,765 cr.
“IT Services Segment Revenue in Non-GAAP constant currency increased by 0.9% sequentially, in line with our Guidance,” the company said.
The outlook for the final quarter of the year is for a growth of 1-3% on the top line on a quarter-on-quarter basis.
IT Services Segment Revenue in dollar terms was $2,013.0 million, remaining flat sequentially and
increasing by 5.8% YoY.
Net profit fell to Rs 1,937 cr from Rs 2,192 cr in the immediately preceding quarter and Rs 2,109 cr in the year-ago period. This was due to the “insolvency of a customer post the balance sheet date,” it said.
“Adjusted for the customer insolvency event, net profit for the quarter increased by 4.0% YoY,” it said.
IT services EBIT margin was at 14.8% compared to 17.3% in the immediate preceding quarter and 18.3% in the year-ago quarter.
It said this was impacted by a provision of ₹317.5 cr ($49.7 million ) made with respect to insolvency of a customer post the balance sheet date. Adjusted for this event, it said, IT Services Margin for the quarter was 17.2%.
The company said over 25% of its revenues came from digital technologies.
“We have made strong progress in our client mining with number of clients contributing revenues over $50 million increasing from 33 to 41 in the last 1 year,” said Jatin Dalal, Chief Financial Officer.
“In the first 9 months of the current fiscal year, we generated robust Operating Cash Flows of ₹77 billion, 14.2% more than the same period last year. We also completed the Share Buyback in December and saw strong participation from our investors.”