By Dhirendra Tripathi

Investing.com – Infosys ADRs (NYSE:) rose 5% on Wednesday after the company raised its annual revenue guidance following a strong third quarter.

India’s second-largest software services firm said it expects revenue growth of 19.5% to 20% for the financial year to March, compared with the 16.5% to 17.5% growth predicted earlier. The operating margin forecast for 23% was retained at the midpoint of its guidance. The operating margin of 23.5% was achieved in the third quarter.

According to the company, large contracts won during October-December were valued at close to 18% more than the second quarter. To close December, the company had 1,738 active clients.

Infosys’s consolidated net profit climbed past 58 billion rupees ($786 million) in the third quarter, just slightly falling short of average estimates.

With the near 17% increase recorded by the insurance, banking and financial services unit, revenue rose to 319 billion rupees. BFSI contributes approximately 32% of the company’s total revenue. 

At over 13%, the highest growth segment in the company was its life sciences division. Manufacturing segment grew by around 12%, led by the company’s hybrid cloud partnership deal with Daimler (OTC:).