Infosys on Thursday reported a shocking set of Q4 numbers, which was even weak than what the IT major had reported during the COVID-Hit quarter. The company’s revenue growth in constant currency terms came in lower by 3.2% on a quarter-on-quarter basis, while the revenue in dollar terms came in 2.2% lower.
The company’s Q4 net profit stood at Rs 6,128 crore against a CNBC-TV18 poll of Rs 6,553 crore. Infosys posted a revenue of Rs 37,441 crore against the CNBC-TV18 poll of Rs 38,830 crore. The management of the company said that they had a one time impact on revenue due to decline in combination of cancellation and some client specific issue.
Moreover, the company also missed its FY23 guidance due to the miss in Q4. The company’s FY23 growth stood at 15.4% against the company’s guidance of 16-16.5% growth.
TOPICS:
Infosys