Infosys, India's second-largest software exporter by revenue, reported a 30 per cent year-on-year (Y-o-Y) increase in its net profit at ₹7,969 crore for the fourth quarter of 2023-24 (FY24), above the consensus Bloomberg estimates of around ₹6,166 crore.
Revenue for the quarter grew by 1.3 percent Y-o-Y to approximately ₹37,923 crore, falling short of the consensus Bloomberg estimate of around ₹38,572 crore. Sequentially, revenue declined by 2.3 percent as clients continued to remain cautious.
In comparison, Tata Consultancy Services (TCS) reported a revenue of ₹61,237 crore for the quarter, a 3.5 percent Y-o-Y increase and a 1 percent rise from the previous quarter.
The information technology (IT) services company has projected a revenue growth guidance of 1-3 percent in constant currency for FY25.
This story is from the April 19, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April 19, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
A life that lives beyond
The passing of Ratan Tata marks the loss of not only an iconic leader but also a global visionary whose influence extended far beyond business.
Ratan Tata: The unlikely social media star
On Monday, Ratan Tata posted on social media: \"Thank you for thinking of me,\" debunking rumours about his health. Just two days later, on Wednesday, the former Tata Group chairman passed away in a Mumbai hospital at the age of 86.
Paytm appears poised for rebound
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license.
Love-all, RAFA
'KING OF CLAY' TO SIGN OFF FROM PROFESSIONAL TENNIS BY THE END OF THIS SEASON
Aman for startups
Ratan Tata was known as much for his business acumen as for his philanthropy. However, a lesser-known fact was his stellar track record when it came to startup investment.
RBI's inflation caution may halt FMCG rally
Analysts suggest buying quality stocks on dips for long term
Indices close marginally higher
Equity benchmark indices Sensex and Nifty settled higher on Thursday due to gains in banking, power, and industrial stocks amid a firm trend in global markets.
Oil gains after 2-day decline
Oil rose after a two-day decline as traders watched for an Israeli response to Iran's missile attack early last week, while US crude stockpiles expanded the most since April.
Pro-rata distribution mandate for AIFs likely to see tweaks
Final norms to ensure excuse, exclude provisions co-exist
Bernstein downgrades Indian stocks on valuation concerns
Bernstein Societe Generale Group's Asia quant strategists have downgraded Indian stocks due to valuations, while predicting further upside for Chinese equities on a policy boost.
