For FY23, Infosys’ fourth-Quarter earnings were more disappointing than positive. This IT conglomerate’s overall operating performance fell short of the public’s expectations. However, a positive factor was a significant decrease in attrition rates and a high intake of deals.

Infosys saw sequential declines in revenue and PAT, and it also cut 3,611 jobs during the quarter. The verticals showed the most weakness.

Insights from Infosys

On Thursday, the company released its Q4 results after market hours. Infosys stock fell 2.8% before the Q4 earnings report, closing at 1,388.60 per share on the BSE. On the NSE, the stock lost more than 3%. On both exchanges, Infosys emerged as the largest bear.

It should be noted that the Ambedkar Jayanti celebration will prevent stock market trading on Friday. As a result, trading will resume on Monday of the following week, and the share price of Infosys will eventually respond.

Infosys announced a final dividend of 17.50 per share for FY23, which pleased investors. A dividend of 16.50 per equity share had been paid by the business previously. In FY23, Infosys paid out a total of 34 yen per equity share, an increase of 9.7 percent from FY22.

In Q4FY23, the IT monster’s PAT came in at ₹6,128 crores somewhere around almost 16% QoQ however up by almost 6% YoY. Also, income from tasks plunged by 2.2% QoQ yet was higher by 16% YoY to ₹37,441 crore in the quarter.

In addition, the sequential decline was 3.2% and the year-over-year growth was 8.8% in constant currency terms in the Fourth Quarter. The working edge for the quarter was 21.0%. Q4 saw a 95.3 percent conversion of free cash flow. Attrition fell to 20.9% in the fourth quarter, continuing the recent trend. Infosys diminished its labor force by 3,611 representatives to 3,43,234 headcounts as of March 31, 2023.

The post Infosys’ fourth quarter (Q4) earnings were lower than expected appeared first on Insights Success.