Infosys Q2 Results Preview: Expect muted CC revenue growth; commentary on deal pipelines to be in focus

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TCS Q2 Results Preview: IT major to report muted earnings growth; share buyback in focus (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Another brokerage firm Nuvama Wealth Management believes Infosys' Q2FY24 revenue may rise 6 per cent YoY. Besides, the brokerage firm expects revenue to grow by 1.2 per cent QoQ in CC terms and 1 per cent QoQ in USD terms.

"We expect steady deal-wins and conservative commentary on the demand environment. We expect Infosys to maintain its revenue (1-3.5 per cent) and margin (20-22 per cent) guidance for FY24," said Nuvama. Also Read: Q2 earnings preview: No fireworks this time; OMCs, BFSI may lead from the front In the previous quarter, Infosys reduced its revenue guidance for FY24 but retained its operating margin forecast.

In its exchange filing the company had said its solid deal pipeline and strong major deal closes placed it well for future development. Not only Infosys, but in fact most Indian IT players may report a softer set of numbers for the second quarter of the current financial year (Q2FY24) due to prevailing headwinds in the key markets. Experts expect a marginal decline in the IT firms' EBIT margin on a year-on-year (YoY) basis as the cut in discretionary programs, the growth slowdown and the increase in costs such as travel and back-to-office expenses dent profitability.