Infosys revised its revenue growth guidance to 14-16 percent from 13-15 percent for FY23.
Infosys’ attrition has elevated for a few quarters — 25.5 percent in Q3FY21, 20.1 percent in Q2FY22, and 13.9 percent in Q1FY22.
The growth is expected to be broad based across verticals driven by strong momentum in digital transformation programs. However, the cross currency headwinds may drag the growth momentum to some extent.
Here are key takeaways from the second-largest technology firms' Q1 earnings.
Indian equity benchmarks maintained early gains with the Sensex rising 170 points, supported majorly by Infosys that beat the street with first quarter numbers.
India's second largest software services exporter Infosys' April-June quarter net profit fell lower-than-expected 0.8 percent quarter-on-quarter to Rs 2,374 crore while rupee revenue increased higher-than-expected 7.8 percent Q-o-Q to Rs 11,267 crore.
The Bangalore-based company has maintained its FY14 US Dollar revenue growth guidance of 6-10 percent and expects rupee revenue to rise 13-17 percent this financial year.
Shares of India's second largest software services provider tumbled 10% on Thursday morning after the company disappointed the street on several parameters.
Harit Shah, Senior Research Analyst, Nirmal Bang Institutional Equities is disappointed with the guidance given by Infosys for the second quarter of FY12. "They guided for around 4.3% sequential top line growth in rupee terms and we were expecting around 5.5-6%."