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Infosys Shares Tank Over 10% After The IT Major Cuts FY-24 Growth Outlook
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Shares of Infosys, India's second-largest IT company, plummeted over 10 percent after reporting lower-than-expected June quarter results. The company's net profit stood at Rs. 5,945 crore, and it posted a 10 percent revenue growth in Q1FY24. Infosys revised its FY24 growth outlook to 1-3.5 percent due to delayed decision-making by clients amid global uncertainties. The Nifty-50 index also missed hitting the record 20,000 due to a 3 percent drop in the Nifty IT index, majorly influenced by Infosys, HCL Tech, and Persistent System.
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Shares of Infosys, India's second-largest IT company, plummeted over 10 percent after reporting lower-than-expected June quarter results. The company's net profit stood at Rs. 5,945 crore, and it posted a 10 percent revenue growth in Q1FY24. Infosys revised its FY24 growth outlook to 1-3.5 percent due to delayed decision-making by clients amid global uncertainties. The Nifty-50 index also missed hitting the record 20,000 due to a 3 percent drop in the Nifty IT index, majorly influenced by Infosys, HCL Tech, and Persistent System.
-----------------------
Thank You for watching! Do not forget to Like | Comment | Share
-----------------------
About the channel
Watch us for the best news and views on business, stock markets, crypto currencies, consumer technology, the world of real estate, bullion, automobiles, start-ups and unicorns and personal finance. Business Today TV will also bring you all you need to know about mutual funds, insurance, loans and pension plans among others.
Follow us at:
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