Infosys Q1| Guidance raised as digital business boosts earnings, Mgmt says fixing tax portal a priority

The outperformance from Infosys set to continue as the tech giant reported Q1 numbers that beat street estimates and raised the revenue guidance for the current financial year. Here are the top highlights-:

• Q1 dollar revenue growth at 4.7% at $3.7 billion 
• Raised revenue guidance for FY22 to 14%-16% from 12-14%
• FY22 EBIT margin guidance maintained at 22-24% despite salary hikes
• Digital business growth remained strong, rising 9.7% to $2.1 billion
• Total contribution of digital business to revenue at 53.9%

Speaking on the income tax portal grievances the management said. "We have made progress on portal, continue to face issues on some functionalities, it's the single largest priority for us today"

ALSO WATCH: This tech stock is up 150% and Morgan Stanley says rally is not over