The company forecast annual revenue growth to range between 4% and 7%, falling short of the average analyst estimate of nearly 11%.Infosys’s headcount dropped by 3,611 employees in the March quarter, although attrition reduced to 20.9%
According to analysts, while the top IT firms are likely to face multiple headwinds, factors such as regular execution of smaller deals, frequently billable projects and a smaller revenue base could work in favour of mid-cap IT firms.