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.

• Parle Backs FSSAI Stricter Food Labelling Rules
• Hyundai Motor Gains as Emkay Raises Target Price
• India Plans 100 New Ships to Cut Freight Bill
• Centre Approves Rs 840 Cr for NH-365BB Upgrade in AP
• HAL, Safran Sign Deal for New Aravalli Engine

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.