In­fosys raises rev­enue growth guid­ance on ro­bust de­mand

The Gulf Today - Business - - REGION -

BEN­GALURU/MUM­BAI: In­fosys, In­dia’s sec­ond-big­gest IT ser­vices com­pany, raised its rev­enue growth fore­cast on the back of ro­bust de­mand for its core ser­vices as well as its lat­est dig­i­tal of­fer­ings from its Western clients.

Ben­galuru-head­quar­tered In­fosys upped its rev­enue growth guid­ance to 8.5-9 per cent in con­stant cur­rency terms for the fis­cal year end­ing March 2019, from 6-8 per cent pre­vi­ously.

The com­pany has a healthy pipe­line of projects and deal wins across all its seg­ments, Chief Ex­ec­u­tive Salil Parikh told a news con­fer­ence.

“Our seg­ments are do­ing well, both of our main dig­i­tal and core ser­vices are do­ing well and that’s giv­ing us some con­fi­dence for the guid­ance for rev­enue,” Parikh said.

For the quar­ter to the end of De­cem­ber, In­fosys re­ported a 29.6 per cent fall in net profit to Rs36.09 bil­lion ($512 mil­lion). That com­pared with the 41.31 bil­lion ru­pees av­er­age of 25 an­a­lyst es­ti­mates com­piled by Refini­tiv Eikon.

A year ear­lier, In­fosys made a profit of Rs51.29 bil­lion, helped by tax ben­e­fits from the com­pany’s deal with the US In­ter­nal Rev­enue Ser­vice, it said in a state­ment.

On Thurs­day, In­fosys’ big­ger ri­val Tata Con­sul­tancy Ser­vices re­ported a record quar­terly profit for Oc­to­ber-de­cem­ber.

In­fosys said rev­enue from op­er­a­tions in the quar­ter rose 20.3 per cent year-on-year to 214 bil­lion ru­pees in what is usu­ally a sea­son­ally weak pe­riod for In­dian IT firms due to a long hol­i­day sea­son in the West.

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