IT services Infosys has disappointed on margin performance because it is more than the talent costs. The company’s net profit for the first quarter was below expectations at Rs 5,360 crore, up 3.2 per cent yearly but down 5.7 per cent sequentially. The company’s revenue growth for FY23 has been reported at 23.6 per cent annually to 34,470 crores.

• NASA Reports Fuel Leak in Moon Rocket Test Countdown
• SC Slams WhatsApp Over Data Sharing for Ads
• India Unlikely to Halt Russian Oil Imports: Ex-Foreign Secretary
• Godrej Properties Rallies 9.75% on Rs 1,000 Cr Sales
• KEC International Bags Rs 1,020 Crore Orders; Shares Rally 5%

The figure was up 6.8 per cent sequentially. Currently, Infosys’ revenue was up 5.5 per cent sequentially, whereas Infosys has managed a top line revenue were Rs 34,008 estimated, but the company has not achieved this target. The company did not meet the expected margin cost range of 21-23 per cent over the retention cost but achieved 20.1 per cent.