India’s second-biggest software services exporter, beat profit expectations in the first quarter helped by key client wins in North America and Europe. Bengaluru-headquartered Infosys posted a consolidated net profit of 34.83 billion rupees ($540.38 million) for the three months ending June 30, up 1.4 percent on the same time last year.
Analysts on average had expected consolidated profit of 34.39 billion rupees, according to Thomson Reuters data. Infosys kept its full year ending March 2018 revenue growth guidance at between 6.5 percent and 8.5 percent on a constant currency basis.
It added eight clients in the $100 million-plus category during the quarter. India’s more than $150 billion software services sector faces headwinds in its biggest market, the United States, as clients hold back technology spending amid concerns about President Donald Trump’s review of a visa program for highly-skilled workers.