BENGALURU : Indian software services provider Infosys on Thursday cut its full-year revenue growth outlook, due to a challenging environment, after reporting first quarter profit below estimates.
The country's second-largest IT services firm by revenue said its full-year revenue growth was seen at 1-3.5 per cent on a constant currency basis, down from its prior view of 4-7 per cent.Analysts had expected a profit of 61.41 billion rupees, Refinitiv data shows. India's IT services companies have kicked off the earnings season on a weaker note, with market leader Tata Consultancy Services warning of an uncertain demand environment, with smaller peers HCLTech and Wipro reporting and projecting muted growth.
Businesses are cutting back spending on discretionary IT projects amid steep inflation that stoked interest rates.
Source: Tech Daily Report (techdailyreport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indian opposition parties form alliance called ‘India’ for 2024 electionsThe president of the main opposition Congress party said “India” stands for “Indian National Developmental Inclusive Alliance”. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
India's Vedanta says awaiting India govt nod for semiconductor plantBENGALURU : India's Vedanta is awaiting the Indian government's nod for incentives under a modified semiconductor production plan to begin construction of a plant in western state Gujarat, for which its has roped in technology and equity partners, a top executive said on Tuesday.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Flash floods in Indian state Assam kill eightFloods and landslides are common in Assam due to seasonal monsoon showers. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Disney approaches Indian court in Google in-app billing challenge -sourceNEW DELHI : Walt Disney has approached a state court in India in an ongoing legal challenge against Google's in-app billing system, a source familiar with the matter told Reuters on Tuesday.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Some Singapore firms turn to Indian cities for talent pool, production boost, cheaper costThe locations of these cities are also ideal for businesses looking to further expand into other regional markets such as the Middle East and Europe.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
India’s Yamuna river laps walls of Taj Mahal after unusually heavy rainThe last time the river reached the walls of the monument was in 1978, local media reports said. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »