Infosys refrains from revenue guidance, Q4 net profit declines 3% to ₹4,335 cr1 min read . Updated: 20 Apr 2020, 05:56 PM IST
- The Bengaluru-based IT firm’s revenue during the March quarter grew 0.8% sequentially to ₹23,267 crore from ₹23,092 in the previous quarter
- Infosys said it will provide guidance after 'visibility improves'
Bengaluru: India’s second largest software exporter by revenue, Infosys Ltd, on Monday followed the trend set by its peers by refraining from projecting revenue growth guidance for FY21, on the back of the impact of Covid-19.
“Considering the business uncertainty emanating from Covid-19, the company is unable to provide guidance on revenues and margins for FY21 at this stage. The company will provide guidance after visibility improves," Infosys said in a statement.
The company declared its fourth quarter earnings after market hours on Monday. The shares of Infosys were up 3.8% to close at ₹652.90 on the BSE.
The net profit of Infosys for the fourth quarter stood at ₹4,335 crore, down nearly 3% q-o-q from ₹4,466 crore in the previous quarter ended December.
The Bengaluru-based IT firm’s revenue during the March quarter grew 0.8% sequentially to ₹23,267 crore from ₹23,092 in the previous quarter.
Operating margins for the January-March period stood at 21.1%, a marginal decline from 21.9% in the previous quarter ended December.