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Infosys Q4 profit beats estimates, strong forecast

Infosys Ltd reported profit and forecast well above analysts expectations, boosted by cost cutting measures.

It reported a net profit of Rs 2,992 cr, compared to the 2,800 cr the street was expecting. Forecast for dollar revenue growth for the current financial year came at 7-9%, above the 7% that the Street was expecting.

Infosys stock rose nearly 5%.

Operating margin rose to 25.48% from 25% in the previous quarter.

Infosys gave salary hikes of 6-7% for offshore employees in April and 1-2% for onsite employees.

Revenue for the fourth quarter, however, was slightly below estimates. While analysts had estimated 13,000 cr, Infosys reported revenue of 12,875 crore.

Infosys’ profit was boosted by a big cut in operating expenses that boosted gross and EBITDA margins as well.

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