Infosys Q3 results: The firm posted a consolidated net profit of ₹6,106 crore, down over 7 percent from ₹6,586 crore in the year-ago period. It has revised FY24 revenue guidance to 1.5-2.0 percent as against 1-2.5 percent earlier.
Infosys, TCS share price Shares of Infosys were trading 1.49 per cent lower at Rs 1,497. TCS was up 0.91 per cent at Rs 3,747.40. The BSE IT index was down 0.23 per cent in an otherwise strong day for the market.
The third quarter performance of Infosys was subdued – largely in line with analysts’ expectations. While revenue and the operating margin (EBIT margin) showed quarter-on-quarter weakness, on the positive side, the country’s second-largest software exporter reported lower attrition and a year-on-year sustained flow of new deals.
CLSA maintained a buy rating on RIL with a target price of Rs 3060. Organic and inorganic triggers are likely to come together and support the up move in 2024.