Infosys Fiscal First Quarter Net Profit Rises 1.4%

By FeaturesDow Jones Newswires

Infosys Ltd. on Friday 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 U.S.

India's second-largest outsourcer by sales said profit in the three months ended June 30 stood at 34.83 billion rupees ($540 million), compared with INR34.36 billion a year earlier.

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That was marginally higher than the INR34.44 billion projected by analysts surveyed by Thomson Reuters. Revenue grew 1.8% to INR170.78 billion.

The Bangalore-based company maintained its projection that revenue for the current financial year, which ends March 31 2018, will grow between 6.5% and 8.5% in constant currency terms.

"We had broad-based growth across geographical and industry segments," Chief Operating Officer Pravin Rao said in a statement.

Like its competitors, Infosys is seeking to provide customers with more sophisticated services, like cloud computing and big data analytics, rather than the traditional IT offerings it has relied on in the past.

It is also dealing with increased scrutiny on Indian outsourcers' use of the skilled worker H-1B visa program in the U.S. following President Donald Trump's election.

-- Write to Newley Purnell at newley.purnell@wsj.com

(END) Dow Jones Newswires

July 14, 2017 01:09 ET (05:09 GMT)