Today, Infosys, a major player in the IT industry released its Q4FY23 results, which came in below expectations.
IT behemoth said it received orders worth $2.1 billion in the fourth quarter of FY23, taking its total for the year to $9.8 billion.
“As the environment has changed, we see strong interest from our clients for efficiency, cost and consolidation opportunities, resulting in a strong large deal pipeline. We have expanded our internal program on efficiency and cost to pave the way for higher margins in the medium term. We continue to invest in our people and in supporting our customers,” said Salil Parekh, CEO and MD.
“Our strong performance in FY23 is a testament to our continued focus on digital, cloud and automation capabilities that resonated with our customers. We have embarked on exciting programs with our customers to leverage the Generative AI platform,” said Salil Parekh, CEO & MD.
“Our continued focus on cost optimization and operating efficiencies should help us achieve an operating margin of 21.0% in FY2023,” said Nilanjan Roy, chief financial officer. policy, we have successfully completed share buyback and proposed final dividend 17.50 for FY23″, he said.
March quarter consolidated net profit for Infosys up 7.8% year-on-year (YoY) 6,128 crores to 5,686 crore during Q4FY22. Firm reports 16 percent growth in consolidated revenue from operations 37,441 cr as against 32,276 crore reported in the year-ago quarter. The company marked revenue growth guidance of 4%-7% for FY24 and operating margin guidance of 20%-22%.
The company’s operating profit was 7,877 crore, up 13% from 6,956 were recorded in the March 2022 quarter. The accident rate declined to 20.9% for Q4FY23, as compared to 24.3 per cent in Q3FY23 and 27.7 per cent in Q4FY22.
“For FY23, the board has recommended a final dividend of Rs. 17.50 per share. together with interim dividend 16.50 per share has already been paid, the total dividend per share for FY23 will amount to 34.00 which is 9.7% higher than FY22. With this, the company has declared a total dividend of approx. 14,200 crore for FY23,” Infosys said in a stock exchange filing.
Infosys closed down 3.14 per cent on the NSE today. 1,383.40 each level.
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