Infosys Q2FY24 results preview: Infosys' net profit may rise just 3.8 per cent on-year to Rs 6,252 crore, while revenue may see a 5 per cent uptick to Rs 38,437 crore
Infosys may post a net profit of Rs 6,245 crore for Q1, up 2 per cent sequentially, much better than the 3-11 per cent QoQ slide in net profits of TCS, HCL Tech and Wipro
The company recommended a final dividend of Rs 17.50 per equity share for the financial year ended March 31, 2023
This comes at a time when hundreds of freshers are waiting for their joining dates at Infosys even though they received the offer letter months ago
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Bloomberg had estimated revenue to be Rs 36,564 crore and net profit at Rs 5,902 crore
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Infosys' profit before tax (PBT) stood at Rs 5,792 crore, up 12 per cent year-on-year (YoY).
While the company's revenue grew by 8.5 per cent year-on-year to Rs 23,665 crore, its profit before tax (pre-tax profit) was up by 12.1 per cent year-on-year
Infosys, in its June quarter results announcement, had revised its FY20 revenue guidance to 8.5-10 per cent year-on-year (YoY) in constant currency (CC) terms
Infosys' Q1FY20 results come at a time when Gartner, the US-based global research and advisory firm, has lowered its projection of worldwide IT spending growth in 2019 to $3.74 trillion.
Revenue is reported at Rs 192.18 bn vs Rs 180.83 bn (QoQ). The company has maintained FY19 constant currency growth maintained AT 6-8%
The main reason for the lower margin guidance is investments in the digital business
Q2 profits up 3.2% to Rs 3726 crore