Infosys posts 30% drop in Q3 net profit, but raises revenue guidance

The company, however, reported healthy top line growth in the quarter with revenues growing at 20.3 per cent on a YoY basis at Rs 21,400 crore while sequentially they rose by 3.8 per cent

Infosys on Friday said it was expecting to close 2018-19 (FY19) on a much stronger note than it had estimated, reflecting the growing optimism of the current management.

The Bengaluru-based company has given the guidance that it will close the fiscal year with a revenue growth rate of 8.5-9 per cent, taking it closer to double-digit growth, which its larger rival TCS has projected for FY19.  At the beginning of the year, the IT giant, which is now helmed by former Capgemini veteran Salil Parekh, had given an initial outlook of 6-8 per cent growth in constant currency, which it had