Infosys Reports Strong Growth in Q4 and FY23 Results
8% YoY Growth in Consolidated Net Profit
Infosys, a leading global IT company, announced its financial results for the fourth quarter and year ended March 31, 2023, on Thursday. The company reported an impressive 8% year-on-year (YoY) growth in consolidated net profit, reflecting the strong performance of its business.
Sequentially Weak Quarter
Despite the YoY growth, Infosys reported a sequentially weak quarter in Q4 2023. The company's revenue declined by 2.2% compared to the previous quarter, indicating a slowdown in business momentum.
Robust Net Profit Growth
However, on a YoY basis, Infosys's net profit grew by a significant 77% to Rs 6,128 crore. This growth was driven by a combination of factors, including increased demand for digital services and cost optimization efforts.
Strong Order Book
Infosys reported a robust order book of $3.4 billion, providing a strong foundation for future growth. The company's key verticals, including banking, financial services, and insurance (BFSI), and manufacturing, exhibited healthy growth.
Management Outlook
"We are pleased with our performance in Q4 and the year as a whole," said Salil Parekh, CEO and Managing Director of Infosys. "Our strong growth in consolidated net profit reflects the resilience of our business and the increasing demand for our digital services."
Parekh added, "Looking ahead, we remain optimistic about our growth prospects. The order book provides us with a solid base to drive future revenue and profitability."
Komentar