Q1 results: Infosys outshines TCS on growth front

Q1 profit, revenue beat Street estimates; company raises dollar guidance for year ahead

Riding on the back of improved efficiency and earnings from new businesses, software exporter Infosys on Friday saw its first quarter profit grow 1.4 per cent to Rs 3,483 crore and revenue by 1.8 per cent to Rs 17,078 crore, prompting the company to raise its dollar guidance for the year ahead.

The Bengaluru-based information technology major forecast dollar revenue to grow 7.1-9.1 per cent, up from April’s guidance of 6.5-8.5 per cent, but still faces headwinds due to uncertainty in large deals from customers in the US and Europe. 

The result beat Street estimates, lifting the stock by 3