BENGALURU, Oct 13 (Reuters) – Infosys Ltd (INFY.NS) on Wednesday raised its annual revenue outlook, as India’s second-largest IT services agency bets on extra contracts from international companies increasing their digital choices throughout the COVID-19 pandemic.
The firm forecast revenue to rise between 16.5% and 17.5% within the monetary yr to March 2022, in comparison with its July prediction of 14% to 16% development. It maintained its margin forecast for fiscal 2022 at 22% to 24%.
India’s $194 billion IT services sector has been a giant pandemic winner, due to the pandemic-induced surge in demand for services equivalent to cloud computing, digital fee infrastructure and cybersecurity.
Bengaluru-based Infosys stated massive deal signings stood at $2.15 billion within the quarter ended Sept. 30, in contrast with $2.6 billion within the June quarter and $3.15 billion a yr earlier.
Its consolidated internet revenue got here in at 54.21 billion rupees ($719.48 million), beating the analysts’ common estimate of 52.74 billion rupees, in line with Refinitiv IBES knowledge.
Revenue from operations climbed 20.5% to 296.02 billion rupees.
($1 = 75.3460 Indian rupees)
Editing by Vinay Dwivedi and Aditya Soni