Infosys raises full year revenue guidance as Q1 exceeds estimates

NEW DELHI: An estimate-beating June quarter profit and large deal wins helped Infosys Ltd raise its revenue guidance for the full year, while maintaining its margin forecast on Friday. The information technology company also revised its cash allocation policy, deciding to distribute 85% of its free cash flow over five years cumulatively, against 70% earlier.

The Bengaluru-headquartered software exporter raised its full-year constant currency revenue growth guidance from 7.5-9.5% in April to 8.5-10%. It also retained its full-year margin guidance of 21-23%.

Infosys’s April-June net profit rose 5.3% year-on-year to ₹3,802 crore, supported by large deals worth $2.7 billion.