Steady deal wins to drive FY25 revenue growth

12 Jan 2024
5 Min read 
  • Infosys reported strong 3QFY24 revenue of USD4.66b, better than expected decline of 1.0% QoQ.
  •  Margins declined 70bp QoQ to 20.5%, but were slightly ahead of estimates.
  •  Steady deal wins and strong traction in the large deal pipeline expected to drive FY25 revenue growth.
  •  FY24 revenue growth guidance narrowed, but mid-point remained unchanged.
  •  Valuation at 19x FY26E EPS, with a target price of INR1,750.
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