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Infosys Q4 profit surges 30% to Rs 7,969 crore

IT giant Infosys reported a 30% surge in consolidated profit to Rs 7,969 crore for the March 2024 quarter, compared to Rs 6,128 crore in the same period last year. Despite a modest 1.3% increase, the company’s revenue reached Rs 37,923 crore. Infosys anticipates a 1-3% revenue growth in constant currency for the fiscal year 2025, with an operating margin target of 20-22%.

Infosys CEO Salil Parekh highlighted steady demand for digital transformation projects and provided optimistic growth projections for the next fiscal year, especially in financial services. However, the growth forecast of 1-3% for FY25 is relatively conservative compared to the 4-7% outlook for FY24. Infosys posted an operating margin of 20.1% for the quarter and 20.7% for FY24, with an annual net profit increase of 8.9% to Rs 26,233 crore.

The company’s total contract value for large deals in FY24 hit a record high of $17.7 billion, with substantial net new additions. Additionally, Infosys announced a significant acquisition, acquiring a 100% stake in German firm in-tech for 450 million euros, aiming to enhance its offerings in e-mobility, autonomous driving, and other sectors. The acquisition aligns with Infosys’ strategy to strengthen its presence in key markets and broaden its industry expertise.

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