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Infosys cuts annual growth outlook despite quarterly revenue beat
The Indian IT services provider reduced its revenue growth forecast to 1%-2% for the year to March 2027, while quarterly profit missed expectations.
Infosys lowered its annual revenue growth outlook on October 23, even as July-September revenue exceeded analysts’ expectations. India’s second-largest IT services provider now expects growth of 1%-2% for the year to March 2027, against its previous projection of 1.5%-3%.
Quarterly revenue increased 10.7% to 492.44 billion rupees ($5.19 billion), helped by stronger demand from energy and utility customers. The average analyst estimate compiled by LSEG was 491.32 billion rupees.
Profit fell short of expectations despite rising from a year earlier. Net profit reached 78.23 billion rupees, up 6.2%, compared with the 79.29 billion rupees analysts had forecast, according to LSEG data.
Excluding currency movements, revenue increased 1.5% overall. The energy business, which ranks third among Infosys’ revenue contributors, posted growth of 7.3% on the same basis compared with a year earlier.
Quarterly deal wins totaled $5.2 billion, versus $3.1 billion a year earlier. Infosys’ Mumbai-listed shares finished unchanged before the results were announced, while a basket of IT stocks declined 0.3%.