Infosys raises FY23 guidance to 16-16.5%; Q3 net profit up 9.4%

Infosys, India’s second-largest software exporter by revenue, on Thursday revised its FY23 revenue growth guidance upwards to 16-16.5% in constant currency from 15-16% it had guided in the previous quarter. This comes on the back of a strong demand environment despite some macro-economic uncertainties. The IT major maintained its operating margins guidance at 21-22% for FY23.

The Bengaluru-based company’s net profit for the December quarter rose 9.4% sequentially to Rs 6,586 crore from Rs 6,021 crore reported in the September quarter. Profits were above consensus Bloomberg estimate of Rs 6,455 crore.

The revenues for the December quarter rose 4.9% sequentially to Rs 38,318 crore on broad-based growth across business segments, service lines, and geographies. Revenues were also higher than the consensus Bloomberg estimate of Rs 37,921.90 crore.