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The market is disappointed with the $Infosys Ltd #Q4FY22 results.
Revenue growth was lower than the consensus, EBITDA margin declined by ~200bps at 21.3% compared to 23% expectations.
The negative reaction is also due to $Tata Consultancy Services Ltd 's excellent performance and in fact, Infosys's guidance of EBITDA margin for FY23 has also come an additional cut by 100bps.
But this issue is not just with Infosys but with other IT companies like $HCL Technologies Ltd too.
In Kotak's view (and I agree with this): this is more of a timing issue and margins will improve over a period of time as there's no doubt that strong tailwinds still exist in this sector.
Revenue growth was lower than the consensus, EBITDA margin declined by ~200bps at 21.3% compared to 23% expectations.
The negative reaction is also due to $Tata Consultancy Services Ltd 's excellent performance and in fact, Infosys's guidance of EBITDA margin for FY23 has also come an additional cut by 100bps.
But this issue is not just with Infosys but with other IT companies like $HCL Technologies Ltd too.
In Kotak's view (and I agree with this): this is more of a timing issue and margins will improve over a period of time as there's no doubt that strong tailwinds still exist in this sector.
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