ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • MSME Summit
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Atal Pension Yojana rule change: Big setback for taxpayers - know how it will impact your savings
  • Home loans, EMIs to get more expensive: Now, this PSU bank hikes interest rates by .20%
  • Mask mandatory in Delhi as Covid-19 cases rise again: Check new rules and penalty
  • US inflation data: Break on 40-year peak, global markets rally - key highlights
  • Microsoft layoffs 2022: IT giant sacks around 200 more employees as recession fears rise
Read in App
Business News » World News

Infosys raises revenue guidance, but third-quarter profit misses estimate

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

Infosys Ltd, India`s second-biggest IT services company, on Friday raised its revenue growth forecast on the back of robust demand for its core services as well as its latest digital offerings from its Western clients.

Bengaluru-headquartered Infosys upped its revenue growth guidance to 8.5-9 percent in constant currency terms for the fiscal year ending March 2019, from 6-8 percent previously.

The company has a healthy pipeline of projects and deal wins across all its segments, Chief Executive Salil Parikh told a news conference.

"Our segments are doing well, both of our main digital and core services are doing well and that`s giving us some confidence for the guidance for revenue," Parikh said.

For the quarter to the end of December, Infosys reported a 29.6 percent fall in net profit to 36.09 billion rupees ($512 million). That compared with the 41.31 billion rupees average of 25 analyst estimates compiled by Refinitiv Eikon.

A year earlier, Infosys made a profit of 51.29 billion rupees, helped by tax benefits from the company`s deal with the U.S. Internal Revenue Service, it said in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/c9bea3b5-4db0-41....

On Thursday, Infosys` bigger rival Tata Consultancy Services Ltd reported a record quarterly profit for October-December.

Infosys said revenue from operations in the quarter rose 20.3 percent year-on-year to 214 billion rupees in what is usually a seasonally weak period for Indian IT firms due to a long holiday season in the West.

The company`s operating margin declined 110 basis points to 22.6 percent even though it retained the margin guidance in the band of 22-24 percent.

Infosys said it was "no longer highly probable" that the sale of its units Kallidus & Skava and Panaya would be completed by the end of March.

Total expenses in the quarter surged over 26 percent to 170.21 billion rupees, which included an additional depreciation and amortization charge of $12 million and a reduction of $65 million in the carrying value for its Skava units.

It also approved a buyback of shares worth 82.60 billion rupees as part of its capital allocation policy.

($1 = 70.4960 Indian rupees)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Fri, Jan 11, 2019
09:15 pm
Reuters
RELATED NEWS
India to be fastest growing economy this year - What government source said India to be fastest growing economy this year - What government source said
Surge in credit demand, falling liquidity may lead to credit tightening: Report Surge in credit demand, falling liquidity may lead to credit tightening: Report
Government releases Rs 1.16 lakh crore of tax devolution to states Government releases Rs 1.16 lakh crore of tax devolution to states
Asian shares slip ahead of crucial US inflation data Asian shares slip ahead of crucial US inflation data
Profit of public sector banks rises 9% to Rs 15,306 crore in April-June Profit of public sector banks rises 9% to Rs 15,306 crore in April-June

LATEST NEWS

Apple iPhone 14 Pro Max, iPhone 14 Pro likely to be expensive than iPhone 13 Pro models - All you need to know

WhatsApp: Hide online status from anyone on WhatsApp - Check step-by-step guide

Rakesh Jhunjhunwala portfolio stock: This Tata Group company's share hits 5-month high – brokerages recommend this

Industry says new digital lending norms to help them scale up, become more responsible

UPSC NDA, NA 2 admit card 2022 released at upsc.gov.in; direct link to download and exam date

Apple iPhone 14 launch - Big development! Check latest updates, expected release date and price

US unemployment: Highest level since November! Claims rise by 14,000 to 262,000

Closing Bell: Sensex surges over 500 points, Nifty50 above 17650 – IT, Bank and Financial stocks support market most

Delhivery share price falls almost 14% in 3 straight sessions amid poor Q1 show – know what brokerage says

Raksha Bandhan 2022 correct, best date and time: Rakhi on 11 Aug vs 12 Aug? Today? Tomorrow? Shubh Muhurat, benefits, harms - All confusion cleared

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV