Infosys Limited closed in the red yesterday dipping more than 3 percent with a closing price of Rs 1,383.40. With such a fall in the prices, the stock has reached near to its 52-week low levels which were noted at a price of Rs 1,355.
On 13th April, after market hours, the company announced the results for the quarter and year ending March 2023. It also announced a final dividend of Rs 17.50 per share for FY22-23 with the record date being 2nd June 2023 for the same.
The consolidated financials of Infosys marked a reduction in the operating revenue figures on a QoQ basis from Rs 38,318 crores in Q3 to Rs 37,441 crores in Q4. Moreover, the net profits of the company, during the same period, went down from Rs 6,586 crores to Rs 6,134 crores.
On a standalone basis, the profitability metrics such as the ROE and ROCE improved on a YoY basis with ROE moving from 30.2 percent during FY21-22 to 34 percent in FY22-23 and ROCE shifting from 38.8 percent in FY21-22 to 43.8 percent in FY22-23.
Apart from the stock listed in India, the NYSE-listed stock of the company also faced a similar and even worse effect noting the percentage change which is by more than 9% and closed at $15.40.
Looking at the fall in the US stock market causes an alert for investors as there are high chances for the stock to face a downfall on Monday.
Infosys, based in Bangalore, is a global software services firm that leverages its offshore outsourcing model. The company derives the majority of its revenue from the North American segment. It offers traditional IT services offerings pertaining to consultancy, managed services and cloud infrastructure services, etc.
Written by Amit Madnani
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