Infosys Results: AI remains the silver lining to a gloomy full-year forecast

Infosys Ltd said its June quarter results were affected by moderation in demand in some segments, particularly in discretionary contracts, but demand for generative artificial intelligence or AI contracts was strong.

The company’s revenue grew only by 1%, net of currency fluctuations, compared to the preceding quarter, while net profit fell 2.9% as operating expenses rose faster than the top line. The company even slashed its revenue growth outlook for the current financial year to 1-3.5% from 4-7% earlier.