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    Infosys sustains deal wins, near-term outlook hazy

    Synopsis

    Infosys disappointed in FY24 with slow revenue growth, weak guidance, and shrinking headcount. Despite TCV of new deals, the company faces pressure. Stock weakness expected due to lackluster guidance and margin contraction.

    Infosys disappointed on major fronts of revenue, margin, and full-year guidance barring the total contract value (TCV) of new deals clocked during the March 2024 quarter. The country’s second-largest IT exporter reported the slowest pace of revenue growth in dollar terms at 1.9% for FY24 at least since FY10. The muted guidance of 1-3% revenue growth excluding currency fluctuations for FY25 and shrinking headcount – first drop in annual employee
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    The Economic Times