Infosys shares rise over 1% After 1,898 on BSE in Thursday’s opening session IT giants Raised its revenue forecast as it expects 19.5%-20% revenue growth for fiscal year-end March 2022, compared to 16.5%-17.5% previously predicted, while maintaining its operating margin guidance Was.
India’s second largest IT company reports 12% growth in consolidated net profit 5,809 crore for Q3FY22 from 5,197 in the same quarter last year, while its revenue grew 23% 31,867 crores.
“Infosys third quarter results surpassed across-the-board estimates, led by strong revenue growth. Amidst high job losses, Infosys has managed its margins well under the leadership of Pyramid Management. 22-24% and expect Infosys to deliver 15% EPS CAGR in FY22-24%. Infosys continues to be our top choice,” Jefferies said in a note.
It has maintained its Buy rating with a revised target price of 2,270 ((from 2,200). “While Infosys continues to outperform on growth, 3Q’s results inspire greater confidence in its ability to manage margins.”
The company’s margin stood at 23.5% in Q3FY22 as against 23.6% in the previous quarter. Infosys said that growth during the quarter was broad-based and digital transformation is accelerating across sectors and regions.
Emkay also maintains Buy Rating with Revised Target Price of 2,160 (earlier .) 2,100), given strong earnings momentum and a strong demand environment. According to the brokerage, Infosys is confident of sustaining the growth momentum owing to broad-based demand, solid deal intake and a healthy deal pipeline.
“The intake of large deals was healthy at $2.5 billion in Q3FY22 (43%), with 25 large deals signed during the quarter. The deal pipeline remains healthy with a good mix of new and renewal deals, providing good revenue visibility,” the note said.
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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