Monday, September 20, 2021

Infosys revenue, profit growth slows

BANGALORE – Infosys Technologies, India’s second largest outsourcer, has reported slower growth in revenue and profits for the quarter ended September 30, reflecting the impact of the economic crisis in the U.S., its largest market.

Infosys also revised its U.S. dollar revenue guidance on Friday, citing the current economic situation and the drastic depreciation of major global currencies against the US dollar.

Revenue for the company’s fiscal year ending March next year is now expected to be in the range of US$4.72 billion and $4.81 billion, with year-on-year growth of 13.1 percent to 15.2 percent, and 16 to 18 percent in constant currency

It forecast in July that revenue for the fiscal year was expected to be in the range of $4.97 billion and $5.05 billion, with year-on-year growth of between 19 percent and 21 percent.

Infosys also announced Friday that it would not increase its bid for Axon Group, an SAP consultancy in the U.K. HCL Technologies, another Indian outsourcer, announced in September that it has made a cash offer for Axon that values its entire issued and to-be-issued share capital at

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