BENGALURU, Jan 11 Reuters Infosys, India39;s No.2 IT services provider, missed quarterly profit estimates on Thursday and tightened its fullyear 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 1.52 on a constant currency basis for the full year from 12.5 previously.

Revenue in the third quarter edged up to 388.21 billion rupees from 383.18 billion in the yearago period, topping analysts39; average estimate of 387.13 billion rupees, as per LSEG data.

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

1 83.0130 Indian rupees

Reporting by Haripriya Suresh; Editing by Eileen Soreng

Source Reuters