LTIMindtree net profit rises 7.7% to ₹1,251 crore

Revises FY25 revenue guidance from 3-4% to 3.75-4.5%; the company is also planning a wage hike in Q4

- UMA KANNAN @ Bengaluru

IT services company Infosys has revised its FY25 revenue guidance from 3%-4% to 3.75% to 4.5% on the back of performance in Q2 and ramp up of mega deals pipeline. In the last eight quarters, this revision has been the seventh one, and the company has retained its margin guidance at 20%-22%. The company on Thursday reported a 4.7% increase in its consolidated net profit at ₹6,506 crore for the quarter ended September 30, compared to ₹6,212 crore in the year-ago period. The Bengaluru-headquartered company met Street estimates and reported a 5% YoY growth in revenue from operations at ₹40,986 crore.

Its operating margin for Q2 stood at 21.1%, and total contract value (TCV) of large deal wins was $2.4 billion, 41% being net new. At the post-results briefings, Salil Parekh, chief executive and managing director, said in financial services, they are seeing discretionary spends improving. “We see that continuing...in automotive, we are seeing slowness in Europe,” he said. In April this year, the company acquired in-tech, an engineering R&D services provider, focused on the German automotive industry.