Technology giant Infosys on Thursday said its fourth quarter net profit rose to 7.8 per cent year-on-year to ₹6,128 crore. In its regulatory filing, the company said its revenue growth forecast is at 4-7 per cent for the financial year 2023-2024.
The company said its March quarter consolidated revenue was up by 16 per cent year-on-year at ₹37,441 crore. The Bengaluru-based company sees FY24 operating margin in the range of 20% to 22%.
The Bengaluru-based company sees FY24 operating margin in the range of 20% to 22%. The results were below street estimates.
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 ₹24,095 crore, while revenue was 20.7 per cent higher at ₹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.
This comes a day after Infosys’ rival TCS released its fourth quarter results. The company said it reported a 14.8 per cent growth in next income to ₹11,392 crore. The company said its revenue rose 16.9 percent to ₹59,162 crore in the March 2023 quarter from ₹50,591 crore a year ago.
