By Apart from the above, companies like Andhra Cements, Ashapuri Gold Ornament, Atharv Enterprises, Central Bank of India, CEAT, Havells India, Choice International, CIE Automotive, Colorchips New Media among others.
India’s second largest IT services company Infosys Ltd is expected to post strong sequential revenue growth in the first quarter ended June 2024, driven mainly by ramp up of large deals.
Revenues for the first quarter are seen rising 2.5% quarter-on-quarter, according to an average estimate of four brokerages. Meanwhile, the same is likely to jump 2% year-on-year. The constant currency revenue growth is estimated to be up to 3% quarter-on-quarter.
Net profit for the April-June 2024 period is likely to increase 6% year-on-year, an average estimate of four brokerages showed.Key monitorables to watch out include deal TCVs and pipeline, pricing scenario, attrition, and outlook on growth and margins.In the preceding March quarter, Infosys posted a 30% year-on-year growth in its consolidated net profit at Rs 7,969 crore, while revenue stood at Rs 37,923 crore, up 1% year-on-year.Kotak Equities expects a 80 bps quarter-on-quarter increase in EBIT margin on the back of the absence of a 100 bps one-off impact. At the same time, it estimates normalization of ECL and post-sale client support provision leading to a headwind of 50 bps.
“Revenue growth is expected to rebound to 2% quarter-on-quarter CC, on account of ramp-up of large deals won in FY24. We expect the deal TCV to be robust in 1Q; however, deals should be skewed towards the cost-takeout initiatives. Operating margin is expected to inch up by 30bp owing to growth and absence of wage hikes. We expect the company’s operating margin to be at 20.4%,” said Motilal Oswal.
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