Infosys Q1 profit grows on client wins

Headline FILE PHOTO: An employee of Infosys stands at the front desk of its headquarters in Bengaluru

Infosys Ltd , India`s second-biggest software services exporter, beat profit expectations in the first quarter helped by key client wins.

Bengaluru-headquartered Infosys posted a consolidated net profit of 34.83 billion rupees ($540.38 million) for the three months ending June 30, up 1.4 percent on the same time last year.

Analysts on average had expected consolidated profit of 34.39 billion rupees, according to Thomson Reuters data.

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Infosys kept its full year ending March 2018 revenue growth guidance at between 6.5 percent and 8.5 percent on a constant currency basis.

The company said it lost one client in its $100 million category during the quarter from the previous quarter, but total active clients rose by a net of 2.

India`s more than $150 billion software services sector faces headwinds in its biggest market, the United States, as clients hold back technology spending amid concerns about President Donald Trump`s review of a visa programme for highly-skilled workers.

($1 = 64.4550 Indian rupees)

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

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