Infosys ADRs slump 11% after drastic cut in FY24 revenue guidance
The Bengaluru-based software major has reported 11% year-on-year growth in net profit at Rs 5,945 crore for the quarter ended June. The profit is lower than the ET Now Poll estimate of 6,150 crore. Infosys’ earnings remained muted on a sequential basis in the June quarter, given a significant slowdown in business amid global macroeconomic headwinds.
