BENGALURU (Reuters) -Software services firm Infosys Ltd raised its annual revenue forecast on Wednesday and posted a jump in quarterly profit, as it won more contracts from global businesses expanding their digital offerings during the pandemic.
The company, India’s second-largest IT services firm by revenue, said it expects revenue growth of 14% to 16% for the financial year to March 2022, compared with the 12% to 14% growth predicted in April.
Infosys also maintained its margin forecast for fiscal 2022 at 22% to 24%.
Infosys and rivals Tata Consultancy Services Ltd and Wipro Ltd have benefited from a trend of global companies tapping IT outsourcers as they ramp up investments in services ranging from cloud-computing, digital payment infrastructure, crypto platforms to cyber-security.
Bengaluru-based Infosys’ consolidated net profit climbed 22.7% to 51.95 billion rupees ($696.89 million) in the three months to June 30, from a year earlier, while revenue from operations climbed 17.9% to 278.96 billion rupees.
($1 = 74.5450 Indian rupees)
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Anshuman Daga, Sriraj Kalluvila and Aditya Soni)
