Constant currency negates the effect of currency volatility, over which the companies have no control.On a reported currency basis, the company is projected to grow between 6.5% and 7.5%, a decline from the 7.1%-9.1% expectations under former chief executive Vishal Sikka . CEO U B Pravin Rao also said Q2 was slower than expected, as it was for much of the industry.For the second quarter ended September 30, Infosys' revenue on constant currency rose 2.2%, better than the performance of peers TCS and Wipro. Compared to the same quarter in the last fiscal, Infosys' revenue on constant currency rose 4.6%, higher than Wipro's 2.8%, but lower than TCS' 7.1%.Chairman Nandan Nilekani described it as excellent results given the circumstances. said chief financial officer M D Ranganath.North America, which contributes to a major pie to all IT services' companies' revenue, grew 1.9% sequentially on constant currency, Europe 4.1%, while the India business was down 5.1%. The banking, financial service and insurance (BFSI) vertical was up 2.6%, manufacturing 1.2%, and retail 1.7%.

Source: Times of India October 24, 2017 20:37 UTC