Infosys Q1 profit up 3.2% to Rs 5,360cr; raises FY23 revenue outlook

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NEW DELHI: India’s Second Largest Software Services Company infosys on Sunday it recorded a 3.2 percent year-over-year increase in consolidated net profit to Rs 5,360 crore for the April-June quarter. The net profit of the Bengaluru-based IT company was Rs 5,195 crore in the same period of the previous year.
Revenue rose 23.6 percent to Rs 34,470 crore in the just-closed June quarter, from Rs 27,896 crore in the corresponding quarter of the previous year, according to the company’s regulatory filing.
Infosys has raised its full-year revenue forecast for FY23 to 14-16 percent, from 13-15 percent previously forecast, supported by first-quarter growth and strong demand prospects.
“Our strong overall performance in the first quarter in an uncertain economic environment is a testament to our innate resilience as an organization, our industry-leading digital capabilities and continued customer relevance,” Salil Parekhthe CEO and MD of Infosyssaid in a statement.
“We are investing in rapid talent expansion while ensuring rewarding careers for our employees to better capitalize on evolving market opportunities. This has resulted in a strong first quarter performance and an increase in FY revenue forecast 23 to 14-16 percent, Parekh said.

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