Infosys, India's second-largest software exporter by revenue, surprised the Street by raising its revenue guidance for 2024-25 (FY25) upwards to 3 per cent4 per cent in constant currency terms.
The Street was expecting the company to maintain its revenue guidance at 1 per cent-3 per cent.
This signals better informationtechnology expenditure by clients.
The company reported a 7.1 per cent year-on-year (Y-o-Y) increase in its net profit at ₹6,368 crore for the first quarter of FY25, above the consensus Bloomberg estimates of around ₹6,248 crore. Sequentially, net profit was down 20.4 per cent.
Revenue for the quarter grew by 3.6 per cent Y-o-Y to approximately ₹39,315 crore, above the consensus Bloomberg estimate of around ₹38,810 crore.
Sequentially, revenue was up 3.7 per cent.
The company has guided its operating margin of 20-22 per cent for FY25. The share price of Infosys, which announced its results after market hours, was almost 2 per cent up at ₹1,759.15.
The firm's ADR (American depositary receipt) increased 8.26 per cent in early trade (9.51 pm IST).
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