Infosys forecasts stable demand for outsourcing

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Global IT software exporter and outsourcing firm Infosys sees a stable-to-good demand environment for outsourcing across services and sectors, prompting the company to keep its revenue growth forecast for this year. After weaker than expected 3.7% growth in its April-June profit, the company has maintained its revenue growth forecast of 6% to 8% for the year. Last year, Infosys reported a 5.8% rise in revenue to US$10.9 billion. The company said recovery in demand from financial services clients remains elusive. Chief Executive Salil Parekh said the company will reassess the outlook based on how the outsourcing demand converts into deals in the next few quarters. Parekh, who was appointed CEO in December, said he expects a pick-up in demand for financial services solutions in the current quarter. He had earlier this year spelt out a new strategy for the company that envisages doubling down on the digital business and re-skilling employees.

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