Infosys sees stronger annual revenue growth on digital business gains

Infosys-Q-report (File) Employees of Indian software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore | Reuters

India's second-largest IT services firm Infosys forecast strong revenue growth and reported its third successive estimate-beating earnings on new client wins, solidifying a recovery that began a year ago.

The Bengaluru-headquartered company said it expects revenue to grow between 11.5 per cent and 13.5 per cent in constant currency terms in the current year—indicating a faster growth rate than the industry average as the company shifts to high-margin digital services business.

In rupee terms, the company expects revenue to grow between 12.7 percent and 14.7 pe rcent, Infosys said.

Industry body Nasscom in February had forecast a 10-12 per cent growth for IT and software services exports in the current financial year.

Infosys, which trails Tata Consultancy Services in terms of revenue, reported a 16 per cent rise in fourth-quarter net profit.

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 Wal-mart Stores Inc among its clients, said revenue rose 23.4 percent to 165.5 billion rupees.

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Topics : #Infosys | #business

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