Infosys, the second-largest IT business in India, announced its revenues for the fourth quarter.
The company has confirmed a revenue of Rs 37,441 crore, a 2.3% decrease from the previous quarter’s revenue of Rs 38,318 crore, with a net profit of Rs 6,128 crore.
According to the latest reports, Infosys’ net profit for Q4FY23 missed predictions by missing roughly 7.0% from the previous quarter’s Rs 6,586 crore.
Infosys’ Revenues of Fourth Quarter
The IT company also fell short of the Rs 38,830 crore in sales forecasts for the three months ending March 2023.
Analysts and brokerage houses predicted that the IT company will increase profits during the March quarter by 14.2 to 21.7% compared to the same period last year.
The IT company was also anticipated to see a little increase in EBIT margin. In the meantime, operating profit came in at Rs 7,877 crore, up from Rs 8,242 crore and Rs 6,956 crore, respectively, reported in the March 2022 quarter.
Infosys was able to achieve its operating margin goal even though its FY23 revenue projections were below target. As per Nilanjan Roy, Chief Financial Officer, Infosys, “Our continued focus on cost optimization and operational efficiencies have helped in achieving operating margins of 21.0 per cent in FY23.”
Infosys’ Revenue Increased by 8.8% YoY
Additionally, during the March 2023 quarter, Infosys’ revenue increased year over year by 8.8% at constant currency.
A final dividend of Rs 17.50 per equity share was recently announced by Infosys for the fiscal year that ended on March 31, 2023.
For the purpose of the Annual General Meeting and the payment of the final dividend, the record date is June 2, 2023. On July 3, 2023, the dividend will be paid, according to a regulatory filing by Infosys. Additionally, the business declared June 28, 2023, as the date of its 42nd Annual General Meeting.
Attrition at Infosys
As of March 31, 2023, Infosys had 3,43,234 employees compared to 3,46,845 through December 31, 2023.
As of March 31, 2023, Infosys had 3,43,234 employees compared to 3,46,845 through December 31, 2023.
According to the firm, the attrition rate for the March quarter was 20.9% compared to 24.3% sequentially. In comparison to the prior year’s net addition of 54,396 people, the company’s workforce growth for 2022–2023 was 29,219 employees, or 46% less.
