Infosys Q4 results : Veteran IT company Infosys has released its fourth quarter results. There has been a tremendous jump in the company’s profits in the last quarter of the last financial year. In the January-March 2024 quarter, the company’s net profit jumped 30 percent to Rs 7,969 crore. At the same time, the company’s revenue has increased by 1.2 percent. Infosys is the second largest IT company in India. The company’s revenue increased by 1.3 percent to Rs 379.23 billion. This is lower than analysts’ estimate of Rs 386.24 billion. Infosys has estimated revenue growth of 1 to 3 percent for financial year 2025.
The stock closed with gains
Infosys Share Price closed with gains on Bombay Stock Exchange on Thursday. The company’s shares closed at Rs 1420.55 with a gain of 0.41 percent or Rs 5.80. 52 week high of this share is Rs 1731. Whereas, 52 week low is Rs 1215.45. On Thursday, the market cap of the company closed at Rs 5,89,651.48 crore on BSE.
IT industry is struggling
India’s $254 billion IT sector has been struggling for the last few quarters. Because clients have reduced spending on non-essential projects under inflation pressure. Due to this, companies are having to accept more difficult contract terms to get bigger deals. While clients are renegotiating, delaying or canceling projects. Due to this there has been a significant decline in the growth of the industry.
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