Infosys share price tanked 1.3% to Rs 1455.55 ahead of the first quarter results announcement. Analysts expect Infosys to post low single-digit sequential growth in revenue in INR terms and mid-teens growth in profitability. They further expect the IT major to report soft 0.8% on-quarter growth in CC terms Q1FY24E. Infosys stock has gained nearly 12% in the last one month and has fallen 4% in the past one year.
“We expect Infosys to post low single-digit sequential growth in revenue in INR terms and mid-teens growth in profitability. However, operating margins are likely to be under pressure owing to soft top-line growth and the impact of wage hikes. We would closely watch FY24 guidance for any signs of moderation, though the balance seems finely hung against the backdrop of deal cancellations and the recent new deal wins,” said Dhruv Mudaraddi, Research Analyst at Stoxbox.