Infosys cuts its FY24 revenue outlook sharply, despite strong deal pipeline

Country’s second largest software services exporter Infosys posted a largely inline first quarter performance with a strong deal pipeline. However, it sharply cut its FY24 revenue guidance owing to delay in project ramp-ups along with overall fall in the volume of work.

For the quarter ended June, Infosys reported around 11% rise in its consolidated net profit on year-on-year (YoY) basis to Rs 5,945 crore. Consolidated revenue during the quarter increased to Rs 37,933 crore, a rise of 10% over the same period a year ago.