Infosys shares fell nearly 3% after its revenue guidance for FY25 failed to meet market expectations. The company reported a 30% jump in profit for the March 2024 quarter.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Apr 19 (PTI) Shares of Infosys on Friday declined nearly 3 per cent after the company's revenue growth guidance for FY25 failed to meet market expectations.
The stock dipped 2.87 per cent to Rs 1,379.70 on the BSE.
On the NSE, it went lower 2.85 per cent to Rs 1,378.75.
Its market capitalisation (mcap) declined Rs 9,549.6 crore to Rs 5,80,042.22 crore in the morning trade.
IT company Infosys on Thursday said its consolidated profit jumped 30 per cent to Rs 7,969 crore in the March 2024 quarter.
The company posted a profit of Rs 6,128 crore in the year-ago period, according to a regulatory filing.
The consolidated revenue of Infosys during the quarter increased 1.3 per cent to Rs 37,923 crore from Rs 37,441 crore in the same quarter a year ago.
The company expects a revenue growth of 1-3 per cent in constant currency for FY25 and an operating margin of 20-22 per cent.
The growth projection is lower compared to the outlook of between 4 per cent and 7 per cent for FY24.
"Infosys guided for 1-3 per cent constant currency revenue growth for FY25, missing expectations," as per a report by JM Financial Institutional Securities.
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