Infosys FY24 guidance, financial performance

Infosys, a leading Indian IT services company, has lowered its guidance for the financial year 2023-24 (FY24)

The company's revenue growth guidance for FY24 has been revised downward to 12-14% from the earlier estimate of 14-16%

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The lower guidance was attributed to the impact of the COVID-19 pandemic on the global economy and the uncertainty it has caused.

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Despite the lower guidance, Infosys reported a strong financial performance in the previous quarter.

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The company's revenue in Q4 of FY21 was $3.6 billion, a 2.8% increase from the previous quarter.

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Infosys also reported a net profit of $697 million in Q4 of FY21, a 17.5% increase from the previous quarter.

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The company's board has recommended a final dividend of INR 15 per equity share for FY21.

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Infosys has a strong cash reserve of $4.6 billion, which gives it flexibility to pursue growth opportunities and invest in research and development.

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The company is investing heavily in digital technologies, such as cloud computing, artificial intelligence, and automation, to stay competitive in the market.

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Infosys' CEO, Salil Parekh, expressed confidence in the company's ability to navigate the challenges posed by the pandemic and continue to deliver value to its stakeholders.

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