DBT Bureau
Bengaluru, June 14, 2024
IT major Infosys on Friday said the first quarter results of the company will be announced on July 18.
“This is to inform you that a meeting of the Board of Directors of the company will be held on Wednesday and Thursday, July 17 and 18, 2024 inter alia to approve and take on record the audited financial statements of the company and its subsidiaries…..for the quarter ending June 30, 2024. The financial results will be presented to the Board of Directors on July 18, 2024 for their approval,” the company said in an exchange filing.
In Q4 of FY24, revenue of the company stood at $4.56 billion, a decline of 2.2% sequentially on a constant currency basis. For the whole financial year (FY24), Infosys’ revenue stood at $18.56 billion, an increase of 1.9% over the previous year.
During the fourth quarter, Infosys posted a margin of 20.1%, which was a decline of 40 basis points over the previous quarter. For FY24, the operating margin came at 20.7%, a decline of 30 basis points over previous year.
The Bengaluru-headquartered company gave a revenue growth guidance of 1-3% in constant currency term with an operating margin guidance of 20-22%.
Infosys’ revenue growth rate came down last fiscal year as compared to past two years owing to a slowdown in digital spending seen in the IT industry. The company has been trying to push up its top line through an inorganic route in recent quarters.
In April, Infosys announced that it would acquire in-tech, an engineering R&D services provider focused on the German automotive industry for around $480 million. In January, the Bengaluru-headquartered company announced the acquisition of InSemi, a provider of semiconductor design and embedded services for around Rs 280 crore.
Investors will keenly watch Infosys’ Q1 earnings as it will indicate the overall demand situation and the company’s growth curve in the coming quarters.
