Infosys Sheds Over 3% Post Q4 Numbers

Infosys, the country's second largest software services company, on Wednesday reported an annual increase of 17 per cent in net profit at Rs 5,076 crore on the back of large contract wins

Infosys shares are trading lower by over 3 per cent in a weak market a day after announcing its Q4 numbers. The country's second largest software services company, on Wednesday, reported an annual increase of 17 per cent in net profit at Rs 5,076 crore on the back of large contract wins as the COVID-19 pandemic drove digitisation efforts in multiple sectors. At 10:15 am, the shares of Infosys were trading at Rs 1,353.25, lower by Rs 43.90 or 3.1 per cent, on the BSE. The Bengaluru-based company had reported profit of Rs 4,335 crore during the same quarter last year. However, on a sequential basis, the company's profit registered a decline of 2.32 per cent.