July 12, 2019 / 10:39 AM / 9 days ago

India's Infosys June-qtr profit rises 5%, beats estimates

BENGALURU, July 12 (Reuters) - Infosys Ltd, India’s No. 2 IT services firm, posted a 5.3% rise in June-quarter profit and raised its revenue forecast for the fiscal year as it bagged more business from its dominant North American and European markets.

The company said on Friday net profit for the three months ended June 30 rose to 38.02 billion rupees ($554.00 million) from 36.12 billion rupees a year ago. Revenue from operations rose nearly 14%.

Analysts on average had expected the Bengaluru-based company to report a net profit of 37.05 billion rupees.

Indian software services exporters, including Infosys and its rivals such as Tata Consultancy Services, rely heavily on revenue from their clients in the West. ($1 = 68.6280 Indian rupees) (Reporting by Derek Francis in Bengaluru; Editing by Subhranshu Sahu)

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