Infosys Ltd. raised its revenue growth forecast for the full year on the back of large deal wins and increased client spending.
Business Environment
The I.T. company's growth remained broad-based and deal momentum robust in Q3, with digital transformation rapidly scaling across verticals and regions.
"Our strong performance and market share gains are a testament to the enormous confidence our clients have in us to help them in their digital transformation," Chief Executive and Managing Director Salil Parekh said in a media statement.
"This is reflected in an upgrade in our revenue guidance to 19.5%-20.0% for FY22," he said. "We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations."
Attrition rate rose to 25.5% from 13.9% in the first quarter. The company has increased the guidance to hire from campuses to 55,000 from 45,000 in the ongoing fiscal.
The company won deals worth $2.53 billion in the October-December period, compared with $2.15 billion in the prior quarter.
Segmental Revenues
The company's life sciences segment grew the most in Q3, at 13.3%. Manufacturing segment grew by 11.8% led by the deal with Daimler.
Shares of Infosys closed 1.09% higher ahead of the earnings announcement, while the benchmark NSE Nifty ended 0.87% up.
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