Infosys reported 7.8 per cent growth in net profit to INR 6,128 crore, while the revenue increased 16 per cent to INR 37,441 crore.
The growth was lower than analyst estimates, showing a decline on a sequential basis.
Managment also forecasted slower revenue growth for the current fiscal year compared with analysts’ expectations at 4-7 per cent for the financial year ending March 2024.
The company sees its FY24 operating margin in the range of 20 to 22 per cent.
Brokerages have turned cautious about Infosys’ future performance, with lower estimates for prices and earnings per share.
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