Infosys consolidated 16.2 per cent year-on-year rise in net profit in the 4th quarter financial year.

India’s second-largest IT services company Infosys Ltd reported on Friday a 16.2 per cent year-on-year rise in net profit, for the fourth quarter of FY16.

Consolidated net profit rose to 35.97 billion rupees ($540.07 million) in its fiscal fourth quarter to March 31, from 30.97 billion rupees a year earlier.

Analysts on average had expected a net profit of 35.56 billion rupees, according to data compiled by Thomson Reuters.

The Bengaluru-headquartered company, which counts Apple Inc, Volkswagen AG and Walmart Stores Inc among its clients, said revenue rose 23.4 percent to 165.5 billion rupees. ($1 = 66.6027 Indian rupees)