The Business Times
business-time-50

Infosys raises annual sales forecast on resilient IT demand

google-preferred-sourceAdd BT as a preferred source
Published Sun, Jul 24, 2022 · 09:35 PM
    • Infosys has reported a 3.1 per cent increase in net profit to 53.6 billion rupees (S$931.3 million) for the first quarter to June, despite expenses such as wage costs.
    • Infosys has reported a 3.1 per cent increase in net profit to 53.6 billion rupees (S$931.3 million) for the first quarter to June, despite expenses such as wage costs. FILE PHOTO: BT

    INFOSYS raised its annual sales forecast on upbeat demand for its digital services, alleviating concerns that a slowing global economy will stifle technology spending.

    Revenue will grow 14-16 per cent in the fiscal year till March 2023, India’s No 2 software services exporter said in a statement on Sunday (Jul 24). That compares with 13-15 per cent it projected in April. Analysts predict growth of 17 per cent, the average of estimates compiled by Bloomberg.

    Infosys reported a 3.1 per cent increase in net profit to 53.6 billion rupees (S$931.3 million) for the first quarter to June, despite expenses such as wage costs. Analysts estimated 56.7 billion rupees. BLOOMBERG

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    In hiring for AI-fluent users, companies will do well to better define and test applicants on their capacity for human oversight.

    Employers want AI-fluent employees. Hiring them is the challenge

    Air India has presented both challenges and potential opportunities to Singapore Airlines, but its investment outcome is still uncertain.

    The billion-dollar question Singapore Airlines shareholders should ask at its AGM

    Koh Boon Hwee says humans have accepted that robots can take over the most repetitive, manual tasks, but are nervous about AI, which can also think.

    With AI, it’s not about coding better; workers need to think better: Koh Boon Hwee

    JustCo has unveiled JustAt, a new co-living brand that will debut at JustCo Place and operate from January 2027. 

    JustCo takes over master tenancy at OG Orchard Point building with push into co-living market

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More