But in the late 90s/early 2000s, NM used to commute economy class Pune-Bangalore in sarkari Indian Airlines. We value the stock at 28 times FY24E EPS, implying a target price of Rs 2,000," Motilal Oswal said.ĭon’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. Infosys reduces avg variable payout for Q4FY23 to 60 Can't speak about the situation now. Based on our revised estimates, the stock is currently trading at 25 times FY24 EPS. We expect it to be a key beneficiary of an acceleration in IT spending. “We expect Infosys to deliver margin on the higher side of its guidance band, with strong growth and reduced dependence on sub-contractors as attrition falls. Motilal Oswal Securities sees the stock at Rs 2,000. Digital revenue grew at 38.8 per cent YoY in CC terms and accounted for 59.2 per cent of the total revenue. Attrition inched up to 27.7 per cent due to a higher base. Margins for Infosys declined 200 bps sequentially to 21.5 per cent in March quarter, mainly due to supply-side pressure, higher subcontracting cost, fewer working days and lower utilisation. Similarly, it reported a 12 per cent year-on-year rise in net profit, compared to 7.4 per cent for TCS. Infosys said its revenue growth was 22.7 per cent year-on-year compared to 15.75 per cent for TCS. The March quarter numbers, it said, disappointed on most parameters, with revenue growth at 1.2 per cent sequentially in constant currency terms missing consensus estimate of 3 per cent, growth partly due to a one-off client-specific issue.ĮBIT margin of 21.5 per cent also fell below consensus estimate of 23.2 per cent, it noted. Nomura India said FY23 CC revenue guidance for Infosys at 13-15 per cent was ahead of Street estimates but margin guidance at 21-23 per cent fell short of it. We maintain Buy with a revised target of Rs 1,970 at 28 times March 2024 EPS, considering broad-based demand, steady market share gain and robust cash generation,” it said. Indian IT services company Infosys will be rolling out 60 per cent variable pay on average to its. “The operating performance miss would weigh on the stock in the near term. Net result is EPS cut of 2-4 per cent for FY2023-24, never a welcome prospect," Kotak said while suggesting a fresh target of Rs 1,975.Įmkay Global has cut its FY23 EPS estimate by 7.2 per cent and FY24 estimates by 4.9 per cent, factoring in the Q4 miss and lower margin guidance. The guidance on operating margin for FY23 is 21-23 per cent."Front-ended revenue growth guidance of 13-15% impressed, while timing and quantum mismatch between headwinds and tailwinds has led to a reset in the EBIT margin band to 21-23 per cent. On the outlook, Infosys has given a revenue growth guidance of 13-15 per cent in the constant currency term for the financial year 2022-23. The company’s revenue jumped 22.7 per cent to Rs 32,276 crore, against Rs 26,311 crore in the March 2021 quarter. In January-March 2023 quarter, the IT Major reported a consolidated net profit of Rs 5,686 crore for the March 2022 quarter, a growth of 12 per cent as compared with Rs 5,076 crore in the year-ago quarter. Which was then reduced to 65 per cent in Q2. The average variable payout made to employees in April to June quarter was 70 per cent. Infosys has been cutting back on variable pay since the past few quarters. “We have always been a resilient organization, responding to market disruptions effectively and striving to move ahead,” reported, quoting the mail. Infosys said in its email to employees that it must remain vigilant to changes in the market, and must see the current climate as an opportunity to “rally as a group and remain committed to navigating the changing business landscape”. “While FY23 was a year of strong performance overall, the quarter that went by was impacted by a volatile market and unforeseen events,” an email sent to employees, reported. The IT giant also missed its annual guidance. While the average payout is 60 per cent, an employee’s final variable payout will depend on their unit or department’s guidelines, and varies for different pay grades and departments. In Q4 FY 23, Infosys posted a consolidated net profit of 6,128 crore, down by 15.68 per cent from a PAT of 7,283 crore in the preceding quarter. The payout will be given along with the salary for May. Updated:, 04:13 PM IST Livemint Infosys Infosys opened at 1275 and reached a high of 1275.45. While the average payout is 60 percent, an employee’s final variable payout will depend on their unit or department’s guidelines, and varies for different pay grades and departments, reported . Infosys closed today at 1263.1, down -0.59 from yesterday's 1270.6 1 min read. Infosys has reduced its average variable payout for Q4FY23 to 60 per cent at an organisation level. Employees have also been informed about the same.
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