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India's Infosys reports first-quarter profit growth on client wins

Reuters logo Reuters 14-07-2017

Infosys Ltd, India's second-biggest software services exporter, beat profit expectations in the first quarter helped by key client wins in North America and Europe.

Bengaluru-headquartered Infosys posted a consolidated net profit of 34.83 billion rupees ($540.38 million) for the three months ending June 30, up 1.4 percent on the same time last year.

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Analysts on average had expected consolidated profit of 34.39 billion rupees, according to Thomson Reuters data.

Infosys kept its full year ending March 2018 revenue growth guidance at between 6.5 percent and 8.5 percent on a constant currency basis.

It added eight clients in the $100 million-plus category during the quarter.

An employee walks past a signage board in the Infosys campus at the Electronics City IT district in Bangalore © REUTERS/Vivek Prakash/File Photo An employee walks past a signage board in the Infosys campus at the Electronics City IT district in Bangalore

India's more than $150 billion software services sector faces headwinds in its biggest market, the United States, as clients hold back technology spending amid concerns about President Donald Trump's review of a visa program for highly-skilled workers.

(Reporting by Arnab Paul in Bengaluru; Editing by Stephen Coates)

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