Mcap drops by Rs 9,549.6 crore
New Delhi: 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 Rs1,379.70 on the BSE.
On the NSE, it went lower 2.85 per cent to Rs1,378.75.
Its market capitalisation (mcap) declined Rs9,549.6 crore to Rs5,80,042.22 crore in the morning trade.
IT company Infosys on Thursday said its consolidated profit jumped 30 per cent to Rs7,969 crore in the March 2024 quarter.
The company posted a profit of Rs6,128 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 Rs37,923 crore from Rs37,441 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.
