Infosys stock price drops in Q3 2023, but shows growth in January 2024.

📈 Infosys Share Price on the Rise: 13 January 2024 📈

Infosys, one of India’s leading IT companies, has announced its financial results for the December 2023 quarter. Despite a 7.3% decrease, the company’s net profit for December 2023 stood at INR 6,106 crore, compared to INR 6,586 crore in the same quarter of the previous fiscal year. On the other hand, the company’s operating revenue increased by 1.3% to INR 38,821 crore for the December 2023 quarter.

📊 Share Price Performance 📊

On Friday, 12 January 2024, Infosys shares were trading at INR 1,592.85, showing a growth of 6.60%. In the same quarter of the previous fiscal year, Infosys had accumulated INR 38,318 crore. This indicates a positive trend in the company’s stock performance.

📈 Revenue Growth Expectations 📈

For the current financial year, Infosys has revised its estimated revenue growth from 1-2.5% to 1.5-2%. This adjustment reflects the company’s optimism about its future financial performance.

🤝 Acquisition Approval 🤝

Infosys also informed the Securities and Exchange Board of India (SEBI) that its board has approved the acquisition proposal of semiconductor design services provider Insemi for INR 280 crore. The acquisition is expected to be completed in the fourth quarter of the financial year 2023-24.

💼 Share Price Movement 💼

During Thursday’s trading session, Infosys shares were trading at INR 1,495, showing a decline of 1.62%. Over the past six months, Infosys shares have provided investors with a return of over 14%. Additionally, the company’s share price has grown by 7.58% in the past year.

ℹ️ Short ℹ️

Overall, Infosys’ financial results for the December 2023 quarter showcase a slight decline in net profit but a positive increase in operating revenue. The company’s stock performance has been promising, offering investors attractive returns. With the acquisition of Insemi on the horizon, Infosys is poised for further growth in the coming months.

Let us know in the comments below what you think about Infosys’ financial performance and its future prospects! 💼📈🚀

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