Canadian Pacific Railway (CP) PT Raised to C$276.00
Rosenblatt Securities Reiterates "Buy" Rating for Apple (AAPL)
Dow closes 97 points lower as concern over government shutdown looms
Delta changing requirements for service, support animals on flights
LA Times staff votes to unionize in blow to owner Tronc
India's Infosys profits soar after TCS slide
12 January 2018, 03:52 | Joann Bryant
Infosys Q3 profit jumps 38% to Rs 5129 crore on income tax reversal
Infosys will also be looking to firmly return its focus to business growth after a tumultuous year that ended with former CEO Vishal Sikka and much of his board leaving, to be replaced by Salil Parekh within months.
India's second-largest outsourcer by revenue, after Tata Consultancy Services Ltd., said that its profit in the three months ended December 31 was 51.29 billion rupees ($805 million), compared with 37.08 billion rupees a year ago.
India's second-biggest IT services exporter Infosys Ltd posted a 38.3 percent jump in third-quarter profit, helped by tax benefits from the firm's deal with U.S. Internal Revenue Service.
The Mumbai- and New York-listed company also maintained its dollar revenue growth outlook for this fiscal year between 5.5% and 6.5%, barring currency fluctuations.
In a regulatory filing on the BSE, the IT major said consolidated revenue, however, grew 3 per cent annually to Rs 17,794 crore for the quarter under review (Q3) from Rs 17,273 crore in the same period year ago.
The profit rise was due to the conclusion of the Advance Pricing Agreement, which had a positive impact on consolidated basic earnings per share in the quarter by about 6.29 rupees.
"Addressing the first press conference post his appointment as CEO of the IT major, Parekh said the ongoing digital disruption has created a new opportunity for the company". ".Our Q3 performance is strong. We had 8 per cent year-on-year growth and 24.3 per cent operating margin with $593 million of free cash flow".
Highlighting the emergence of technology in terms of Artificial Intelligence (AI), Machine Learning, Internet of Things (IoT), Salil said Infosys is progressing towards stability and is "ready to serve clients in the new areas of demand".
Revenues are expected to grow 2.1%-3.1% in INR terms based on the exchange rates as of December 31, 2017. Its total headcount stood at 2.01 lakh at the end of December quarter.
Meanwhile, Rajesh K. Murthy, President, has resigned from the company citing personal reasons.
Q3 revenues grew year-on-year by 8.0% in United States dollars terms; 5.8% in constant currency terms and 3 percent in rupee terms to Rs17794 crore for the quarter ended December 2017.
Justine Greening quits Government amid Cabinet reshuffle
Ex-Work and Pensions Secretary David Gauke took over the roles of Lord Chancellor and Justice Secretary vacated by Mr Lidington. A tweet was sent out from the official @conservatives account congratulating Chris Grayling as new chairman of the party.
NHS in winter crisis again? Blame the politicians
It also issued an appeal on Twitter for off-duty staff to come in to work on Tuesday night - the second such appeal this week. The surge has added to the pressure on hospitals, which are struggling to cope with a jump in patient numbers.
WikiLeaks' Julian Assange gets citizenship of Ecuador
Assange later taunted after Lasso's loss that he would "cordially invite Lasso to leave Ecuador within 30 days". Assange has been in the embassy of the South American country in London's Knightsbridge locality since 2012.
China's trade with North Korea dropped sharply in 2017
The International Monetary Fund is forecasting 2017 economic growth, due to be reported next week, at just under 6.8 percent. China's exports rose in December, capping a year of stronger trade growth buoyed by a robust global economy.
Hazard 'agrees' summer transfer to Real Madrid
Chelsea goalkeeper and former Atletico Madrid shot-stopper Courtois, 25, has also emerged as a target for Zinedine Zidane's men. Eden Hazard has confirmed he will commit his long-term future to Chelsea by signing a new contract at Stamford Bridge.
Tunisia deploys army as violent protests intensify
Europe is concerned about stability in Tunisia partly because unemployment there has forced many young Tunisians to go overseas . The military deployed to multiple cities as some people blocked roads, threw stones and set fires.
Several killed in Southern California mudslide
"We can't get to them, and they can't get to us", Yaneris Muniz, spokesperson for Santa Barbara County, said in a statement. At least 15 people were killed and more than two dozen were injured as of Wednesday, according to the New York Times .