Q1 results today: Infosys shares dip 2% before earnings. Three things crucial for bounce back
Q1 results today: After three Indian IT major — Tata Consultancy Services (TCS0, HCL Technologies and Wipro, fourth IT giant Infosys is going to declares its Q1 results 2023 on Thursday. As per the company release, Infosys results for Q1FY24 may get announced by 3:45 PM followed by press conference and earnings call at 4:30 PM and 6:00 PM respectively.
As per Dalal Street estimates, the Indian IT major is expected to report soft margins and muted revenue growth, but it is expected to report better revenue growth than TCS, HCL Tech and Wipro. However, stock market experts are of the opinion that one should judge Infosys Q1FY24 results by looking at the company's performance on three fronts — margins, attrition and order book inflows.
On how to judge Infosys results for Q1FY24, Anuj Gupta, Vice President — Research at IIFL Securities said, "These days any Indian IT company's results are judged on three basic points — margins, attrition and order book inflow." The IIFL Securities expert maintained that attrition rate would be crucial a lowering of attrition of employees is expected to result in higher invoicing and order book inflow and these two would result in improvement of margins. Hence, out of these three, attrition rate of employees would be most important, said Anuj Gupta.
Highlighting the importance of European and the US business inflows after the Russia-Ukraine war, Vaibhav Kaushik, Research Analyst at GCL Broking said, "After the outbreak of Russia-Ukraine war, most of the IT companies have logged depreciation in order inflows from the US and Europe and Infosys is not an exception to it. As Infosys receives majority of its business inflows from US and Europe, it would be important to scrutinize company's order
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