 "Infosys Limited Corporate Head Office")
Infosys Ltd on Thursday announced its earnings for the quarter ended March 2023 (Q4FY23).
The Bengaluru-based IT major saw 7.8 per cent year-on-year rise in consolidated net profit at Rs 6,128 crore for Q4FY23, the company said in a regulatory filing. The net profit (after minority interest) stood at Rs 5,686 crore in the fourth quarter of FY22. Seen sequentially, the net profit for Q4 came in 7 per cent lower.
Infosys logged a 16 per cent year-on-year growth in consolidated revenue in the fourth quarter of FY23 at Rs 37,441 crore.
The company recommended a final dividend of Rs 17.50 per equity share for the financial year ended March 31,
2023.
The results were below street estimates as the analysts expected growth of 10.73 per cent for the period, according to Refinitiv IBES data.
India's second-largest IT services firm expects revenue growth of 4-7 per cent for the fiscal year ending March 2024 amid macroeconomic uncertainties.
Infosys, during Q3 earnings announcement in January this year, had raised FY23 revenue guidance to 16-16.5 per cent against the previously projected band of 15-16 per cent. For the full year FY23, the net profit was up 9 per cent on year at Rs 24,095 crore, while revenue was 20.7 per cent higher at Rs 146,767 crore.
"As the environment has changed, we see strong interest from our clients for efficiency, cost and consolidation opportunities, resulting in a strong large deal pipeline," Infosys CEO and MD Salil Parekh said in a statement.
The shares of the IT major ended 3 per cent lower in Thursday's session.
It is the second major IT company, after TCS, to report its March quarter results.
