Infosys Ltd reported a poor 1.4% decline in dollar revenue in the third quarter (October-December period) and India’s second-largest software firm cut its full-year growth guidance for the third straight time in the current financial year.
Bengaluru-based Infosys now expects its dollar revenue to grow between 7.2% and 7.6%—down from its earlier expectation of growing between 7.5% and 8.5% in the current financial year.
At the start of the year, Infosys management had expected its dollar revenue to grow between 11.8% and 13.8%.
In constant currency terms, Infosys now expects to grow between 8.4% and 8.8% as against its earlier estimate of growing between 8% and 9% for the full year. This is lower than industry body Nasscom’s top-end projected growth of 8-10% for India’s $150 billion outsourcing sector