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Infosys Q4 Earnings: Profit Jumps 30% YoY, Goldman Sachs Cuts TP

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Infosys Q4 Earnings: Profit Jumps 30% YoY, Goldman Sachs Cuts TP

) announced a robust performance for Q4 FY24, with a net profit of INR 7,975 crore, marking a significant 30% YoY increase. Despite challenges, the company reported a 1.3% YoY growth in revenue, reaching INR 37,923 crore.

Goldman Sachs maintains a Buy rating with a 16% upside, highlighting Infosys's resilience but lowered the 12m target price by 4% to INR 1,650 . However, they caution a negative read-across for companies like Wipro and LTIM, particularly those reliant on discretionary revenues. Infosys's note on tight budgets in the Communications sector could also impact companies like TechM, suggesting broader implications within the sector.

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