October 11, 2019 / 11:07 AM / a month ago

India's Infosys Sept-qtr profit declines 2.2%

BENGALURU/NEW DELHI, Oct 11 (Reuters) - Infosys Ltd , India’s No. 2 software services exporter, on Friday reported a 2.2 percent drop in consolidated net profit for the September quarter in line with Street estimates, hurt by rising costs.

The Bengaluru-headquartered company also raised the low end of its full-year revenue forecast on upbeat demand for its services. The company now expects revenue growth of 9% to 10% on constant currency basis, compared with its previous guidance of between 8.5% and 10%.

Infosys posted a net profit of 40.37 billion rupees ($568.11 million) for the second quarter, compared with 41.10 billion rupees a year ago. Revenue from operations rose 9.8%.

Analysts on average had expected a profit of 40.16 billion rupees.

Indian software services exporters, including Infosys and Tata Consultancy Services, rely heavily on revenue from their clients in the West.

$1 = 71.0600 Indian rupees Reporting by Sankalp Phartiyal and Derek Francis; Editing by Maju Samuel

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