Infosys Limited is a global technology corporation based in India, specialising in business consulting, information technology, and outsourcing services. Founded in Pune, the company’s headquarters are located in Bengaluru, Karnataka.
As the 2nd largest IT service provider in the country, Infosys Ltd. announced on December 13, 2024, that it has arranged a board of directors meeting on January 15 and 16, 2025, to evaluate and approve the financial outcomes for the quarter ending December 31, 2024(Q3 FY25).
“In this regard, we wish to notify you that a meeting of the Company’s Board of Directors is set to take place on Wednesday and Thursday, January 15 and 16, 2025. The agenda includes the approval and recording of the audited consolidated financial results for the company and its subsidiaries, prepared in accordance with Indian Accounting Standards (INDAS), for the quarter and nine months concluding on December 31, 2024,” Infosys stated in a regulatory filing.
Infosys announced a nearly 5% increase in its net profit for Q2 and has adjusted its revenue forecast upwards for the year, attributed to a widespread recovery in demand, especially from its primary clients in the financial sector. The consolidated net profit for the second quarter of the 2024-25 fiscal year stood at ₹6,506 crore, indicating a 4.7% growth in comparison to the corresponding period last year and a 2.2% increase over the preceding quarter, according to the company.
For the 2nd consecutive quarter, the technology services leader has raised its revenue forecast for the entire fiscal year. It now anticipates constant currency revenue growth of between 3.75% and 4.5% for the financial year from April 2024 to March 2025, an upgrade from its prior estimate of 3% to 4%.
Salil Parekh, the CEO and Managing Director of Infosys described this as a “huge upward movement” in the growth forecast. This revision is bolstered by a surge in significant deals. The company had previously adjusted its guidance in June, increasing from an initial range of 1-3% for the year.
As of 1:41 PM, Infosys Ltd.’s share price was down 1% on the NSE traded at ₹1,982.30 per share.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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