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Bengaluru: Infosys and Wipro’s Sept quarter performance reflects a subdued demand environment, ongoing tariff uncertainties, and cautious discretionary spending by clients, with vendor consolidation and cost efficiency continuing as dominant themes.Infosys’ revenue grew 2.2% sequentially and 2.9% year-on-year in constant currency, while Wipro’s revenue increased 0.3% sequentially but declined 2.6% year-on-year.In dollar terms, Infosys posted revenues of $5billion, marking a 3.7% year-on-year growth. Wipro’s revenue stood at $2.6 billion, registering a 2.1% decline year-on-year. The Street wasn’t impressed with the performance, as Infosys and Wipro shares fell 3% and 2%, respectively, in early trade on the NYSE.Infosys has revised the lower end of its revenue growth forecast for the current financial year to 2%–3%, up from its earlier projection of 1%–3%. “Typically, the second half of the year tends to be slower than the first — that’s the usual pattern. Having said that, we’ve seen good traction recently, which is why we’ve increased our guidance. The previous forecast was 1% to 3%, and now it’s 2% to 3%. So, in a sense, we have greater confidence in the outlook, especially with the increase at the lower end of the range,” said Infosys CEO Salil Parekh.He said Infosys saw a good performance in manufacturing and financial services. “Retail continues to face some constraints, though we do see a healthy pipeline there, and we’ll watch how that unfolds over the coming quarters.” Infosys reported a total contract value of $3.1 billion in large deals.
