Infosys Q1 revenue rises 14% with order boost

Infosys on Friday reported a strong revenue growth in the first quarter as it bagged more orders, and raised its guidance for FY20.

The IT services firm raised its revenue growth guidance for FY20 to 8.5-10 per cent in constant currency. Last quarter, it had said it expected a revenue growth of 7.5-9.5 per cent in FY20.

Reacting to the result and revenue guidance, the ADRs of Infosys jumped 7.8 per cent at $11.56 in early trade on Nasdaq. They were quoting at $11.39 at 8.30 pm IST.

MD and CEO Salil Parekh said Infosys had a good start to FY20, aided by a strong deal pipeline and digital revenue growth of 41.9 per cent.