Infosys, CEO and MD, Salil Parekh said “We delivered the highest ever large deal value in the financial year 2024. This reflects the strong trust clients have in us. Our capabilities in Generative AI continue to expand.
Infosys reported a revenue growth of 1.3 per cent year-on-year (YoY) in the fourth quarter of financial year 2023-24 ended on 31st March, with revenues reaching at Rs 37,923 crore.
The net profit of Infosys surged by 30 per cent YoY to Rs 7,969 crore, as informed by the company to the stock exchanges in its quarterly earning data released on 18th April 2024.
Infosys also projected a growth trajectory for the fiscal year 2024-25 in a range of 1 to 3 per cent.
Infosys Share Price Target
On 19th April, Infosys shares opened at Rs 1,385 apiece, declined by 2.40 per cent as compared to the previous day’s close of Rs 1,419.25.
According to the Zee Business expert, Buy call for the Rs 1,420 put option of Infosys with a target price of Rs 55 and a stop loss at Rs 35.
JP Morgan maintained OVERWEIGHT rating in Infosys shares but cut the share price target from Rs 1800 to Rs 1700.
UBS also cut Infosys share price target from Rs 1800 to Rs 1700 but maintained BUY rating.
Infosys Dividend Announcement
Infosys also declared a dividend of Rs 28 per share, comprising a regular dividend of Rs 20 per equity share for the financial year ended March 31, 2024, along with an additional special dividend of Rs8 per equity share.
A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings.
Infosys Q4 Results 2024; What CEO Salil Parekh Said?
Salil Parekh, CEO and MD said “We delivered the highest ever large deal value in the financial year 2024. This reflects the strong trust clients have in us. Our capabilities in Generative AI continue to expand. We are working on client programs, leveraging large language models with impact across software engineering, process optimization, and customer support.”
He further added “I would like to thank our 317,000 employees across the world that are working to create value for our clients.”
(With Inputs From ANI)
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice.)
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