New Delhi: Shares of Infosys on Friday ended nearly 1 per cent lower after the company's revenue growth guidance for FY25 failed to meet market expectations.
The stock fell 2.87 per cent to Rs 1,379.70 during the day on the BSE. It finally ended at Rs 1,411.60 apiece, lower by 0.63 per cent.
On the NSE, it declined 2.85 per cent to Rs 1,378.75 in intra-day trade. Shares of the company ended at Rs 1,411.95 each, down 0.51 per cent.
The company's market capitalisation (mcap) declined by Rs 3,655.37 crore to Rs 5,85,936.45 crore.
In volume terms, 8.65 lakh shares of the company were traded on the BSE and over 206.04 lakh shares on the NSE during the day.
IT company Infosys on Thursday said its consolidated profit jumped 30 per cent to Rs 7,969 crore in the March 2024 quarter.
The company posted a profit of Rs 6,128 crore in the year-ago period, according to a regulatory filing.
The consolidated revenue of Infosys during the quarter increased 1.3 per cent to Rs 37,923 crore from Rs 37,441 crore in the same quarter a year ago.
The company expects a revenue growth of 1-3 per cent in constant currency for FY25 and an operating margin of 20-22 per cent.
The growth projection is lower compared to the outlook of between 4 per cent and 7 per cent for FY24.
"Infosys guided for 1-3 per cent constant currency revenue growth for FY25, missing expectations," as per a report by JM Financial Institutional Securities.
(Published 19 April 2024, 06:59 IST)
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