Infosys misses street estimates; posts 3 per cent growth in net profit

BENGALURU: IT services provider Infosys on Sunday posted a 3 per cent increase in net profit at Rs 5,360 crore for Q1 FY23 compared to Rs 5,195 crore in the same quarter last year.

However, sequentially the company reported a 5.7 per cent decrease in net profit. It reported Rs 5,686 crore net profit in Q4FY22. The company missed street estimates, as analysts forecasted around 6-9 per cent increase in consolidated net profit.