Analysts believe Infosys will maintain its operating margin guidance of 20-22% for the financial year
The company used to give hikes to everyone below the senior management in April, and to those above in July
India’s second-largest IT company Infosys has slashed its revenue guidance for FY24 to 1-3.5% from 4-7%, amid an increasingly challenging demand environment. Infosys, which posted its results on July 20, saw its profit miss market expectations. It reported an 11% increase YoY in its net profit to Rs 5,945 crore in the first quarter of the 2024 fiscal.
Q1 FY23-24 Earnings Season: Watch the detailed analysis of Infosys Q1 numbers, management commentary and growth guidance here.
India's second largest software services provider Infosys reported a 27% year-on-year growth in net profit for the fourth quarter, but forecast much lower-than-expected US dollar revenue growth for FY13, warning the year remained challenging due to slower growth in the global economy.
In the quarter ended June 2011, Tata Consultancy Services (TCS) reported better than expected results. Infosys' results, however, narrowly missed street expectations.
Infosys, which has fallen short of expectations with its fourth quarter numbers, is not taking this lying down. It has chalked out a major restructuring plan that it says will help accelerate growth, report CNBC-TV18's Sunanda Jayaseelan and Vineetha Athrey.
Earnings season has started on a feeble note, with IT bellwether Infosys posting a disappointing set of quarterly numbers. The company stock took a beating on Friday, and closed nearly 10% lower on weak guidance. CNBC-TV18's Vineetha Ahtrey and Sunanda Jayasheelan find out what went wrong with Infosys.