IT giant Infosys declared a 30% rise in its net profit for the fourth quarter of financial year 2024, with a net profit of Rs 7,969 crore. However, its revenue growth was only 1.3% compared to the previous year. Despite this, Infosys has recommended a final dividend of Rs 20 per equity share and an additional special dividend of Rs 8 per equity share. The company is projecting a 1-3% revenue growth in constant currency for the financial year 2025.
TCS has seen a positive start in the stock market as it gained over 1.5% following its Q4 results showing a 100 basis-point rise in operating margin and record deal wins. However, major foreign brokerages have contrasting views on the IT giant. TCS's CEO and MD, K Krithivasan, expressed satisfaction with the performance, citing a strong order book and execution excellence, while analysts from Mehta Equities noted a slight underperformance in revenue growth but praises for surpassing EBIT forecasts. All eyes are now on Infosys' upcoming results to assess the overall recovery in the IT sector.