Infosys raises outlook for FY22; Wipro hits $10 billion run rate

Infosys Ltd and Wipro Ltd reported robust quarterly earnings on Wednesday, beating analysts’ estimates, as clients continued to embrace digital initiatives to serve their customers better and put together business continuity plans amid the pandemic-related disruptions.

Bengaluru-based Infosys raised its revenue growth forecast for this fiscal to 16.5-17.5% in constant currency from the earlier projection of 14-16%, buoyed by a strong deal pipeline. However, India’s second-largest software services company retained its operating margin forecast at 22-24%.

Net profit for the September quarter rose 12% to ₹5,421 crore from a year earlier, beating Bloomberg consensus estimate of ₹5,277.20 crore. Revenue grew 20.5% to ₹29,602 crore from a year ago, driven by broad-based growth across new deals as well as existing client base. That compares with analysts’ estimates of ₹29,385.70 crore.