Infosys revenues will see negative COVID-19 impact, says analyst
Indian company Infosys Ltd may have seen a boost in demand for its IT services even at the time of this COVID-19 pandemic, but the company’s revenues are projected to be impacted in the coming quarters, according to analysts.
D.D. Mishra, senior director analyst at researcher Gartner Inc, says the pandemic will impact Infosys’s revenue by 5% to 10%, especially in the sectors of banking, financial services and insurance. However, the company has not yet projected its full-year revenue, citing the need for a clearer view of the impact of the pandemic. The company has reported a 6.1% rise in its net income for the March quarter.
It also reported sales rose 8% from a year ago to INR232.7 billion (US$3 billion). Implementing a work-from-home setup still poses a challenge as the increased demand for IT services is disrupting the tech outsourcer’s ability to serve its clients.
