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.
Infosys has trained open-source generative AI platforms on its internal software development libraries as well, Salil Parekh has said
The roles of Ravi Kumar S, who exited the company in October last year, were primarily split between Sathish HC and Dinesh Rao
Infosys also saw a one-time impact on revenue, according to the company's leadership.
During the third quarter of the 2023 fiscal year, the company added 1,627 employees, a decrease from the previous quarter. With this, Infosys' headcount stands at 3,46,845 as of December 31, 2022.
The growth is expected to be broad based across verticals driven by strong momentum in digital transformation programs. However, the cross currency headwinds may drag the growth momentum to some extent.
IT major Infosys will release its earnings for the first quarter ended June 2021, on July 14. Analysts expect the IT firm to report strong earnings growth during the quarter and to revise full-year revenue growth forecast upwards. Here is what our poll suggests.
The IT services giant is also slated to hold a board meeting on April 13 and 14 to approve and take on record the consolidated financial results of the company for the quarter and year ending March 31, 2021.
The company forecast its annual constant currency revenue for FY19 to grow by 6-8 percent.
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.