Q2 results: Infosys presses cursor up on PAT, down on revenue guidance

Infosys posted a 3.2% on-year growth in net profit for the second quarter, but narrowed its annual revenue growth guidance and reduced headcount sharply.

India’s second-largest IT services firm highlighted concerns around slowing demand for technology services, which was also flagged a day earlier by its larger rival Tata Consultancy Services.


Infosys now expects revenue to grow 1-2.5% this fiscal year, compared with the 1-3.5% it had estimated in April-June — its second straight quarter of a guidance downgrade — as the $245-billion Indian IT industry grapples with slowing discretionary spends, along with delays in decision making and deal conversations.