While Infosys net missed the Street s estimate, its revenue was a tad above expectations. Net new deal wins also remained strong, which makes analysts hopeful of a recovery in the coming quarters
Infosys' will host a press conference at 4:30 pm IST and a 60-minute conference call at 6:30 pm, where its senior management will discuss company's performance and answer questions from participants.
Infosys Q3 results: The firm posted a consolidated net profit of ₹6,106 crore, down over 7 percent from ₹6,586 crore in the year-ago period. It has revised FY24 revenue guidance to 1.5-2.0 percent as against 1-2.5 percent earlier.
At the beginning of the financial year, Infosys had guided for 4-7% growth in cc revenue for the current financial year. Within three months, this growth outlook saw a sharp cut to 1.0-3.5%, and then to 1.0-2.5% at the end of Q2. The revision in guidance this time was not something that the Street had widely expected.