Infy’s Q2 net profit rises 3.1% to Rs 6,215 cr

New Delhi: India’s second largest IT services firm Infosys on Thursday posted a 3.1 per cent rise in consolidated net profit to Rs6,215 crore for the September 2023 quarter, but trimmed the full-year revenue outlook to 1-2.5 per cent, citing a slowdown in decision-making and sustained pressure on discretionary spends.

“On guidance, we are seeing discretionary projects and large transformation programmes have reduced significantly, and we are seeing decision-making continues to be slow. As we have looked at this quarter, the volumes are still under constraint and keeping that in mind, we have given our guidance for the full year,” Infosys CEO and MD Salil Parekh said at a briefing.

On the positive side, the company clinched the highest-ever large and mega deal wins with a total contract value of $7.7 billion and announced that wage hikes will be rolled out from November 1. Infosys, however, cautioned that discretionary projects and large transformation programmes have reduced significantly amid uncertain macro-environment.