BENGALURU -Infosys, India's No.2 IT services provider, missed quarterly profit estimates on Thursday and tightened its full-year revenue forecast on weak demand from clients amid global economic uncertainty. Consolidated net profit fell 7.3% to 61.06 billion rupees ($735.55 million) in the seasonally weak third quarter from a year earlier.

Analysts, on average, expected a profit of 61.67 billion rupees, as per LSEG data.

Infosys revised its revenue growth forecast for a third consecutive quarter to 1.5%-2% on a constant currency basis for the full year from 1%-2.5% previously.

Revenue in the third quarter edged up to 388.21 billion rupees from 383.18 billion in the year-ago period, topping analysts' average estimate of 387.13 billion rupees, as per LSEG data.

The $245-billion IT sector, which had gained immensely from a pandemic-induced digital services boom, has been struggling in recent quarters as clients cut spending on non-essential projects amid inflationary pressures and recession fears.

  - Reuters