Infosys shares drop 3% after revenue guidance misses expectations
Infosys CEO Salil Parekh says the IT major is seeing good traction in large deals but digital and discretionary spending is still a bit slower.
Infosys CEO Salil Parekh says the IT major is seeing good traction in large deals but digital and discretionary spending is still a bit slower.
Shares of Tata Consultancy Services gain 4% in intraday trade today.
The termination of the deal comes days after Infosys chief financial officer Nilanjan Roy suddenly handed over his resignation.
Infosys’ Q2 revenue grows 6.7% to ₹38,994 cr against 36,538 cr during year-ago period; attrition rate falls to 14.6%
Infosys says it is among the top 3 global professional services firms and the only brand from India in the top 100 global rankings
The software services company's stock hit its 52-week low of ₹1,219 apiece on the BSE on Monday.
Variable payout lower than 70% paid during Q1 FY22; among its peers, TCS and Wipro to award 100% variable pay to 70%, and 100% performance bonus to 85% staff in Q2, respectively.
The labour ministry invites Infosys to hold a joint discussion on the issue before the chief labour commissioner.
Shares of India's second-largest software services provider Infosys plunged 7% on Monday.
In its guidance for FY23, Infosys says it expects revenue growth of 13%-15% in constant currency and an operating margin of 21%-23%.