Infosys posts 1.4% profit rise

Infosys Ltd reported a 1.4% rise in its fiscal first-quarter net profit as it grapples with a changing technological landscape and increased focus on its use of skilled-worker visas in the US. India’s second-largest outsourcer by sales said profit in the three months ended 30 June Rs34.83bn (USD540m) compared with Rs34.36bn a year earlier. That was marginally higher than the Rs34.44bn projected by analysts surveyed by Thomson Reuters. Revenue grew 1.8% to Rs170.78bn. The Bangalore-based company maintained its projection that revenue for the current financial year, which ends 31 March 2018, will grow between 6.5% and 8.5% in constant currency terms.