Infosys Cuts Growth Outlook, Shares Fall 10%, M-Cap Falls Rs 43,776 Crore

Infosys on Thursday reported a lower-than-expected 11 per cent rise in net profit for the June quarter and delivered a shocker as it slashed its FY24 growth outlook to 1-3.5 per cent on delayed decision-making by clients amid global macro uncertainties.

Shares of Infosys tanked nearly 10 per cent this morning after the company reported a lower-than-expected 11 per cent rise in net profit for the June quarter and slashed its FY24 growth outlook.

The stock tumbled 9.47 per cent to Rs 1,311.60 on the BSE.

At the NSE, shares of the company cracked 9.96 per cent to Rs 1,305 apiece.