Infosys (NYSE: INFY) reported revenue rose 8.0% year over year to US$2.75 billion in its fiscal third quarter ended Dec. 31. The increase was 5.8% in constant currency. Gross margin fell at the global IT services and outsourcing provider but net profit increased.

The company also announced President Rajesh Murthy has resigned from the company for personal reasons. His last date with Infosys will be Jan. 31.

An employee of the company for 26 years, Murthy was responsible for the global energy, utilities, telecommunications and services business unit, including setting the vision, creating and implementing strategy, and driving growth. He has held senior leadership positions across the business and in all major markets.

Quote

“We are progressing towards stability and are well positioned to serve our clients in the new areas of demand,” said CEO and Managing Director Salil Parekh, who took over the role this month.

“Increased adoption of our digital offerings and new services helped stabilize price realization. We were able to grow client relationships across revenue categories,” COO Pravin Rao said. “During the quarter, we provided compensation increases and higher variable payouts to our employees. Our investments in employees continue to deliver results as reflected in lower attrition.”

Outlook

Infosys expects revenue to rise 6.5% to 7.5% in US dollar terms in its fiscal year 2018 ending March 31, based on Dec. 31 exchange rates.