Infosys shares rise mildly after Q3 results beat street estimates; should you buy, hold or sell?

Infosys shares were trading marginally higher on Friday at Rs 1,484 on NSE after the company reported a 13.4% rise in its consolidated net profit for the quarter ended December 2022 at Rs 6,586 crore on January 12. The company’s consolidated revenue from operations increased 20.2% to Rs 38,318 crore against Rs 31,867 crore in the corresponding quarter last year. The total contract value for the quarter was the strongest in the last eight quarters at $3.3 billion, the IT firm said. Infosys share price has tumbled 2.6% so far this year, but the stock has gained over 2% in the last six months.

Infosys long-term growth outlook intact
“Infosys has delivered a good set of numbers for Q3FY23, with revenues and profits beating estimates. Deal wins was strong at $3.3 bn TCV, highest in the last eight quarters, also the high point of the quarter gone by was upgrade of revenues guidance to 16-16.5% vs 15-16% earlier and dropped in attrition rate.