Bengaluru: Infosys beat expectations with a boost in profits while snagging a record $2.8 billion in large deals in the second quarter of the financial year as it outperformed larger rival Tata Consultancy Services in revenue growth, setting the stage for double-digit expansion for India’s second-largest software exporter and once industry bellwether. India's Infosys suspended its full-year 2021 revenue forecast on Monday, joining its software outsourcing rivals in …
Infosys reported a 7% rise in revenue from its financial services business to 72.82 billion rupees ($951.39 million), which helped boost its overall fourth-quarter revenue to 232.67 billion rupees.
These are the largest companies by revenue. Apr 20, 2020, 18:30 IST . Infosys Consulting is a management consulting, IT consulting practice within the larger Infosys organization which works in strategy, IT transformation, change management and business analytics. On an annual basis, Infosys' net profit rose 11.4 per cent from Rs 3,798 crore during the same quarter last year.Infosys shares led sharp gains in the IT pack, pushing the Nifty IT index - comprising technology stocks of rivals Tata Consultancy Services and Wipro - 4 4 per cent higher. The Bengaluru-based software services firm managed to secure large client deals during the COVID-19 pandemic.
Infosys signed $1.74 billion worth of large deals in the three months to June 30, the company said in a statement.In dollar terms, Infosys' revenue declined 2.4 per cent on a sequential basis to $3,121 million, Infosys said in a press release. We’ll be extremely careful with the way we look at costs.”Infosys’ move to set aside its outlook comes a week after bigger rival TCS said the outbreak had “completely reversed” the positive momentum from the first half of the fiscal year.In response to safety measures taken by the company to counter the coronavirus outbreak, Infosys said 93% of its employees were working from home.Infosys reported a 7% rise in revenue from its financial services business to 72.82 billion rupees ($951.39 million), which helped boost its overall fourth-quarter revenue to 232.67 billion rupees.The company’s shares closed 3.9% higher, although the broader market closed flat.BENGALURU (Reuters) - India’s Infosys suspended its full-year 2021 revenue forecast on Monday, joining its software outsourcing rivals in flagging a hit to its business as the coronavirus pandemic freezes client activity in the United States and Europe.The United States and Europe, the two biggest markets for the Indian IT industry, have been the worst hit from the coronavirus pandemic as lockdowns to contain the virus have brought their economies to a virtual halt.The company, however, said it did not intend to lay off employees, instead it planned to hire 35,000 new engineers this year.Infosys, Wipro Ltd, and Tata Consultancy Services Ltd offer a range of software services to some of the biggest companies globally that have lost business and working days due to lockdowns and production cuts. Infosys Consulting operates globally and currently has offices in 18 countries across the Americas, Asia Pacific and Europe. Infosys suspended its full-year 2021 revenue forecast on Monday, joining its software outsourcing rivals in flagging a hit to its business as the coronavirus pandemic freezes client activity in the United States and Europe.
(This April 20 story corrects company name to TCS in fourth paragraph)Reporting by Derek Francis in Bengaluru; Editing by Anil D'Silva
Infosys, Wipro Ltd, and Tata Consultancy Services Ltd offer a range. Prabhjote Gill.
Infosys, Wipro Ltd, and Tata Consultancy Services Ltd … Revenue from digital services came in at $1,389 million, which was 44.5 per cent of total revenues, Infosys added. (Mint) Infosys drafts a new strategy to focus on growth from top clients 2 min read.
Infosys’ revenue, profit and margin in the red as Coronavirus sweeps over the global economy.
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