Demand for digital helps Infosys, Wipro rise in the markets

Infosys and Wipro reported soaring quarterly results mainly because of the increase in demand for digital services caused due to the pandemic on Wednesday.
The IT service major, Infosys, posted 16.6 per cent growth in its net profit-making it stands at Rs 5,197 for the December quarter on Wednesday. The company also witnessed an increase of 12.27 per cent in its revenue standing at Rs 25,927 on Year-on-Year basis. Whereas Quarter-on-Quarter basis it was up by 5.52 per cent.
The company further said that its digital revenues grew at 31.3 per cent from a year ago in constant currency to $1.76 billion contributing more than 50 per cent to the total revenue. The company also announced a definitive agreement to purchase assets and onboard employees of Carter Digital, one of Australia’s leading experience design agencies.
Meanwhile, Wipro, in its December quarter, reported a profit of Rs 2,966.70 crore. The company also reported a dollar revenue growth of 3.9 per cent at USD 2,071 million compared to 3.7 per cent Quarter-on-Quarter. The firm has witnessed highest dollar revenue growth in 36 quarters. 
Commenting on the company’s performance, Thierry Delaporte, CEO and Managing Director said that the demand environment is steadily improving, especially for digital transformation, digital operations and cloud services.