Infosys Ltd on Wednesday bumped up its annual revenue forecast and posted a near 12 per cent jump in quarterly profit, riding on strong demand for its software services from businesses accelerating their digital transformation due to the pandemic.
The country's second-largest IT services firm by revenue said it expects revenue growth of 19.5 per cent-20 per cent on a constant currency basis for the financial year to March, compared with the 16.5 per cent-17.5 per cent growth predicted in October.
"We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations," Chief Executive Officer Salil Parekh said in a statement.
India's $194-billion IT industry has been a big beneficiary from the pandemic spurring global companies to bolster investments in services ranging from cloud-computing, digital payment infrastructure to cyber-security.
Crosstown rival Wipro earlier on Wednesday reported a 30 per cent rise in revenue for the December quarter and a near flat net profit, while the country's largest IT services firm, Tata Consultancy Services, is set to announce results later in the day.
Bengaluru-based Infosys' consolidated net profit climbed to Rs 5,809 crore ($786.06 million) in the December quarter, from Rs 5,197 crore a year earlier.
Revenue rose to Rs 318.67 billion, with the banking, financial services and insurance unit, which accounts for over a third of the total, posting a 16.85 per cent growth in the quarter.
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(Published 12 January 2022, 11:29 IST)
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