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Infosys net profit declines 7%, misses Street estimates
The Morning Standard
|January 12, 2024
IT services company Infosys missed Street estimates, and posted a 7.3% drop in third quarter (Q3) net profit at ₹6,106 crore compared to ₹6,586 crore in the same quarter last year.
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The IT major has again revised its FY24 revenue guidance to 1.5-2% against 1-2.5% it had projected during the September quarter. This is the third revision in guidance. It maintained its operating margin guidance for FY24 at 2022%. Infosys' revenues for the third quarter stood at ₹38,821 crore, growth of 1.3% YoY. Its operating margin for the December quarter stood at 20.5%, decline of 1% YoY. The IT company's large deal for the quarter stood at $3.2 billion.
Salil Parekh, CEO and MD, said with Gen AI, the company has an extremely strong capability to set up a lot of activity with its clients.
Cette histoire est tirée de l'édition January 12, 2024 de The Morning Standard.
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