By Michael Dabaie

Infosys Ltd. ADRs were up about 15% to $12.14 in morning trading.

The India-based digital services and consulting company said first-quarter revenue was $3.12 billion, versus $3.13 billion a year earlier. The company said revenue was up 1.5% in constant currency.

Earnings per share came to 13 cents, the same as a year earlier.

Digital revenue was $1.39 billion, up 25.5% in constant currency from a year earlier. Operating margin was at 22.7%, an increase of 220 basis points year-on-year.

"Operating margin expanded to 22.7% driven by preemptive deployment of our strategic cost levers along with tactical opportunities triggered by the COVID situation", said Chief Financial Officer Nilanjan Roy.

The company guided for fiscal 2021 revenue growth of 0% to 2% in constant currency and operating margin in the range of 21% to 23%.

Vanguard said Tuesday it will partner with Infosys to enhance its full-service defined contribution business. Through the partnership, Infosys will assume day-to-day operations supporting Vanguard's DC recordkeeping business, including software platforms, administration, and associated processes, Vanguard said.

Write to Michael Dabaie at michael.dabaie@wsj.com