Infosys ADRs fell nearly 9 per cent in pre-market trading on the NYSE after the company revised its FY24 revenue guidance downwards. The IT major reported mixed Q1 numbers, with profit and operating margin figures below expectations.
Infosys Q1 Result: Infosys Q1FY24 net profit rose 11 per cent YoY to ₹5,945 crore, while revenue increased 10 per cent YoY to ₹37,933 crore. The company revised its revenue guidance for FY24 to 1-3.5 per cent but retained its operating margin guidance.
Net profit is at Rs 5,360 crore, or Rs 12.78 a share, compared with Rs 5,195 crore, or Rs 12.24 per share, in the same period a year back, the company said in a statement.