Infosys Says September Quarter Will Be Better Than June Quarter
Infosys arrests de-growth In second quarter, expects Q2 to be better than Q1.
Infosys Ltd. said growth in the July to September quarter will be higher than the previous quarter, even as it offered cautious commentary on the operating environment.
Infosys arrested the de-growth in the course of the quarter, the management told investors at the J.P. Morgan India Investor Summit. However the business environment has worsened in the course of the quarter, the management added.
BFSI Challenges
Infosys said its banking, financial services and insurance segment is facing challenges, with a couple of clients in the U.S. and Europe struggling.
The BFSI vertical contributed around 27 percent to Infosys’ revenue in fiscal year 2016-17, as per Bloomberg data.
The company added that it is seeing some softness in the hi-technology business.
In July, Infosys cut its guidance for the current financial year, while in August, it warned of client specific softness post Brexit.