Infosys cuts revenue forecast for 2017-18
A weak growth outlook amid uncertainty over when Infosys expects to appoint a full-time CEO probably suggests that the worst is not over for Infosys and Nandan Nilekani has a challenging task on hand. Photo: Hemant Mishra/Mint
Infosys Ltd cut its full-year revenue guidance on Tuesday, blaming poor spending by its largest customers, as India’s second largest outsourcing firm struggles to regain the growth momentum that once made it India’s information technology bellwether.
The Bengaluru-based company now expects revenue to grow at-best 6.5% in constant currency terms in the year to next March. In July, Infosys had forecast constant-currency growth of 6.5-8.5%. On Tuesday, Infosys forecast actual dollar revenue growth of 6.5-7.5%, down from July’s projection of 7.1-9.1%.
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