Infosys hikes revenue guidance even as higher costs bite
India's Infosys raised its revenue guidance for 2022-23 on Sunday, betting on buoyant demand for digital services even as higher costs ate into the IT giant's June quarter earnings. Net profit at the country's second-largest IT firm rose 3.2 percent year-on-year to 53.60 billion rupees ($689 million) in the third quarter ending June 30. But seen sequentially, net profits declined 5.7 per