Infosys Q4 Results Date: Infosys to announce Q4 results on April 13, all eyes on FY24 outlook
While the March quarter performance will be important to gauge the impact of the global slowdown, Dalal Street’s eyes will be more on the outlook for FY24.
Shares of Infosys have net lost over 5% in the March quarter, largely due to the macroeconomic slowdown in the US and Europe.
This got aggravated by the financial instability in the regions following the collapse of Silicon Valley Bank and the crisis in Credit Suisse.
The exposure to the banking and financial services sector, excluding insurance, for Infosys stands at 26%. In terms of geography, the BFSI exposure in Europe for Infosys stood at around 5%.
Post the December quarter earnings, major IT firms sounded out that they did not see any significant impact of the economic slowdown in the US and the UK on technology spending and that the outlook for the deal pipeline in 2023 was reasonable for most large US banks.
But with the crisis in the banking sector, investors will closely watch the change in the tone of the management on the spending front.Even though challenges to growth remain, analysts widely expect Infosys to outperform Tata Consultancy Services in FY24.
Global ratings agency Moody’s Investors Service expects Infosys’ revenue to grow 8% in FY24 and that of TCS at 5%.
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