Infosys: Q1FY24 Result Update
21-07-2023

Infosys

Particulars

Q1FY24

YoY Trend

Comments

Revenue

37,933

10%

Financial services saw 4.7% drop in revenue and Communication vertical reported 6.1% drop.

EBITDA

9,064

15%

 

EBITDA Margin

24.9%

+110 bps

 

PAT

5,945.00

11%

 

Quarterly result was in line with the estimates. However, poor FY 24 guidance of 1-3.5% Constant Currency (CC) growth v/s 4-7% previous guidance led to significant fall in the stock price. The current pain may persists over next few quarters, we remain cautiously optimistic given (a) growing digitisation needs of businesses and (b) early signs of revival in global economy.

 

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