Indian software services company Infosys reported quarterly profit that beat estimates on Thursday, and raised its annual revenue outlook, helped by a strong deal pipeline.
The Bengaluru-based company expects revenue growth of 16 to 16.5 per cent for the financial year to March, from revenue growth of 15-16 per cent projected earlier.
Infosys saw its large deal signings rising to $3.3 billion, its strongest in the last eight quarters, up from $2.53 billion, year.
Gross addition of clients during the quarter rose to 134, from 111 a year ago.
“As reflected in the large deals momentum, we continue to gain market share as a trusted transformation and operational partner,” Salil Parekh, chief executive and managing director, Infosys said in a statement.
Infosys’ profit beat was in contrast to that of larger rival Tata Consultancy Services Ltd, which missed profit estimates and flagged challenges in Europe as clients tightened spending due to rough economic conditions.
Consolidated net profit at the country’s No. 2 IT services firm by revenue rose to ₹6,586 crore ($808 million) in the three months to Dec. 31, from ₹5,809 crore a year ago.
Analysts on average had expected a profit of ₹6,500 crore, according to Refinitiv IBES data.