Infosys boosts guidance after strong showing; Q2 net profit rises 11.7%

On the back of strong demand-led digital transformation, Infosys on Wednesday raised its revenue growth guidance for the financial year 2021-22 to 16.5-17.5 per cent, from the earlier 14-16 per cent.

Beating Street expectations, Infosys reported net profit of Rs 5,428 crore, up 11.7 per cent YoY and 4.3per cent sequentially. Revenue for the quarter was up 20 per cent to Rs 29,602 crore. The company beat Bloomberg estimates on both topline and net income levels.

Infosys ADR (American Depository Receipts) were up 3.72 per cent to $22.695 until 7.46 pm (IST). The stock closed at Rs 1,708.75 on the BSE, up 1.42 per cent.

The company said that Q2 was yet another exceptional quarter with broad-based growth across segments as it continued to grab market share.