Infosys’ Q4 profit up 7.77% at Rs 6,128 cr

IT bellwether Infosys’ consolidated net profit rose 7.77% to Rs 6,128 crore in the three months ended March 31 (fourth quarter), while revenue rose 16% to Rs 37,441 crore.

The IT major on Thursday forecast slower revenue growth for the current fiscal compared with analysts’ expectations, amid a turmoil in the US banking sector that has prompted clients to tighten spending.

India’s second-largest IT services firm expects revenue growth of 4%-7% for the fiscal year ending March 2024. Analysts expected growth of 10.73% for the period, according to Refinitiv IBES data.

The Bengaluru-based company sees FY24 operating margin in the range of 20% to 22%. The conservative guidance comes on the back of ongoing upheaval in the US banking system and an edgy macroeconomic environment.