Infosys profit jumps, raises revenue view on digital boom

Software services giant 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. Infosys and rivals Tata Consultancy Services Ltd and Wipro Ltd have benefited from rising demand for outsourcers as companies boost investments in services ranging from cloud computing to digital payment infrastructure.

There is a strong pipeline of deals, including work in the cloud, data and analytics areas, Infosys Chief Executive Officer Salil Parekh said on a conference call. The company, India’s second-largest IT services firm by market value, 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.