Infosys Q1 above Street estimates, raises FY25 revenue guidance

Software major Infosys on Thursday reported better-than-expected earnings of Rs 6,368 crore for the June quarter and also surprised the street by upping its sales forecast for FY25 to 3-4% in constant currency terms from 1-3% earlier. The higher forecast indicates clients are starting to spend more on technology in a resilient global environment.

Infosys net profits, which fell 20% sequentially, mainly due to an income tax refund received in the last quarter, were led by growth in its banking, financial, services and insurance (BFSI) vertical.