Infosys share price falls over 2% today as Q4 earnings miss estimates

Infosys shares on Friday fell over 2% in early trade on the back of its Q4 earnings missing street estimates on the revenue and margin front.

Infosys shares on Friday fell over 2% in early trade on the back of its Q4 earnings missing street estimates on the revenue and margin front. Infosys share price fell to an intraday low of Rs 1,378 on the NSE. As of 9:24 AM, shares of the company were trading lower at Rs 1,389, down 2.10% on the NSE.

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Most global brokerage firms have cut their target price for Infosys shares post its Q4 shocker. Jefferies, who has a Buy rating on the stock, has cut its target price to Rs 1,630 per share, while Citi, who has a Neutral call on the stock, has cut its target price for the stock to Rs 1,550 per share.
The company’s revenue for Q4FY24 came in at Rs 37,923 crore against Rs 37,441 crore posted in the same period last year, a growth of merely 1%. The company’s net profit however grew 30% YoY to Rs 7,969 crore against Rs 6,128 crore posted during the same period last year. The net profit however was aided by other income, coming in at Rs 2,729 crore for the quarter ended March 2024.
The company’s revenues in constant currency terms came in flat on a YoY basis but fell 2.2% on a sequential basis. EBIT margin for the company came in lower than estimates at 20.1%. Furthermore, the company has also given a slightly lower than expected guidance for FY25.