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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The IT bellwether’s revenue from operations register a mere 1.3% year-on-year jump and decline 2.3% sequentially. Separately, a restructuring exercise results in downsizing at The Good Glamm Group.
First, Infosys. India’s second-largest IT services company on Thursday reported robust financial performance for the January-March quarter of the 2023-2024 fiscal year. Its consolidated net profit surged 30% year-on-year to Rs 7,969 crore, beating analysts’ estimate of Rs 6,128 crore, according to Moneycontrol.
However, the company’s revenue missed estimates. Its revenue from operations registered a mere 1.3% year-on-year jump to Rs 37,923 crore and declined 2.3% sequentially.
The increase in net profit was primarily driven by interest earned on income tax refunds during the March quarter.
Infosys projected a constant currency revenue growth of 1-3% for FY25 and operating …
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