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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.
In a recent setback for IT services giant Infosys, a $1.5 billion agreement centered on artificial intelligence (AI) solutions with an undisclosed global company has been terminated, as revealed in a stock exchange filing on Saturday. Infosys, in its statement, noted that the global company opted to terminate the Memorandum of Understanding, and consequently, the parties will not be pursuing the Master Agreement., Companies News, Times Now
In the second quarter, the Bengaluru-based company reported a 3% growth in consolidated net profit at Rs 6,212 crore. Consolidated revenue grew nearly 7% YoY to Rs 38,994 crore. In an unexpected move, the software major tweaked its guidance for FY24 in the September quarter. It now sees revenue growing 1-2.5% in constant currency terms in FY24, compared to its earlier estimate of 1-3.5%.
Infosys Employees to Receive Much-awaited E-mail on May 19. IT Company Gives BIG Update on Variable Pay- DEETS HERE, Companies News, Times Now
Infosys Buyback: Approval For Shares Worth Rs 9,200 Cr Upto Rs 1,750 Per Share Apr 15, 2021, 13:05 IST Infosys Ltd. has announced a buyback plan with the Board approving the proposal worth Rs 9,200 crore. The company also announced the earnings for the quarter ending in March and fiscal year 2021. Infosys in a regulatory filing said that shares will be bought back via the open market route through the stock exchanges. The buyback will be done at a price of up to Rs 1,750 per share through the open market route. The Bengaluru-based company had enhanced its capital allocation plan from F...