Infosys, India's second-largest IT services firm, forecasts fiscal year 2027 revenue growth between 1.5% and 3.5%. The company reported quarterly revenue that surpassed analyst expectations, with notable demand from its financial services, energy, and communication segments.
Chief Executive Salil Parekh anticipates growth acceleration in financial services and energy, utilities, resources, and services verticals. This comes as India's $315-billion IT industry navigates weak tech spending globally due to geopolitical and macroeconomic uncertainties.
Despite challenges, a weaker rupee has bolstered revenue for software services firms billing in foreign currencies. Infosys' consolidated sales rose 13.4% to 464.02 billion rupees ($4.93 billion) for the quarter ended March, while net profit increased 20.87% to 85.01 billion rupees. Large order bookings for the quarter stood at $3.2 billion.