IT major Infosys Ltd. on Thursday trimmed its FY27 constant currency revenue growth guidance to 1.5-3 per cent from 1.5-3.5 per cent, citing an uncertain demand environment.
The IT major retained its EBIT margin guidance at 20-22 per cent after reporting June-quarter revenue of Rs 48,211 crore, up 3.9 per cent sequentially, while EBIT margin expanded 20 basis points to 21.1 per cent.
The Bengaluru-based company posted constant currency revenue growth of 1 per cent quarter-on-quarter, lower than Tech Mahindra’s 2.6 per cent, but ahead of TCS (0.4 per cent), HCLTech (-0.5 per cent) and Wipro (-1.2 per cent).
Revenue for the quarter stood at $5.08 billion, while EBIT rose 4.3 per cent sequentially to Rs 10,163 crore. In rupee terms, revenue increased from Rs 46,402 crore in the March quarter to Rs 48,211 crore.
AI business gathers pace
Artificial Intelligence continued to emerge as a meaningful contributor to Infosys’ business. The company said AI now accounts for 8.2 per cent of its overall revenue, reflecting increasing adoption of AI-led transformation projects by clients.
Chief Executive Officer Salil Parekh said AI momentum is translating into revenue growth, while the company’s Topaz platform continues to drive client engagements.
Deal wins remain strong
Infosys reported large deal wins worth $3.6 billion during the quarter, with 61 per cent coming from net new business.
CEO succession announced
The company also announced Ashiss Kumar Dash as its CEO-designate. Dash, who has spent more than three decades at Infosys, will take over from Salil Parekh on April 1, 2027, after Parekh completes his current term.
Stock performance
Infosys shares ended little changed at Rs 1,052.9 on Thursday. The stock has declined 35 per cent so far this year.