Infosys raises revenue forecast by 10%; net up 5% in first quarter

Infosys, the country’s second-largest IT services company, on Friday announced a sound set of numbers for FY20.

An uptick in demand for its digital services, apart from a momentum in the large deal space, prompted the IT services major to increase its revenue guidance for the financial year to 8.5-10 per cent from 7.5-9.5 per cent as guided earlier.

However, Infosys continued to face margin pressure, apart from continuing higher attrition numbers, with a drop in the operating margin for the quarter.

In the April-June quarter, net profit increased 5.26 per cent to Rs 3,802 crore year-on-year (YoY) while it dropped 6.8 per cent sequentially.