Infosys Q1 best in 10 years with revenue up 17%

BENGALURU: Infosys continues to make a remarkable recovery from the depths of the pandemic a year ago. The company’s revenue was up 16.9% in constant currency for the quarter ended June 30, making it its best first quarter in a decade. The growth is slightly better than TCS’s 16.4%, but considering that TCS’s revenue had fallen much more than Infosys’s in the year-ago quarter – which was the height of the pandemic – the latter’s numbers this quarter are on top of that relatively more solid base.

The performance and future visibility around orders encouraged Infosys to raise its revenue guidance for the full year to 14-16%, from 12-14% it made just three months ago. The company’s ADRs on the New York Stock Exchange (NYSE) were up 2% in morning trade.