Infosys Q1 net profit rises 23%, ups FY22 revenue guidance to 14-16%

'This has been a landmark quarter for us with the company. Q1FY22 saw the fastest growth in the last 10 years,' says CEO Salil Parekh

Infosys may have missed Street’s net profit expectations for the quarter ended June 2021, but the country’s second-largest information technology (IT) services player on Wednesday raised its revenue growth guidance for financial year 2021-22 (FY22), buoyed by a robust deal pipeline. 

The company now expects its revenue to grow by 14-16 per cent in FY22, up from the earlier estimate of 12-14 per cent. This guidance is ahead of the one-percentage point increase analysts were estimating. Kotak Institutional Equities, for instance, had noted in its results preview: "We expect Infosys to raise FY2022 revenue growth guidance to 13-15 per cent in