Last updated: 21 Jun, 2021 | 12:24 pm
Infosys held its 40th Annual General Meeting on June 19th, Saturday. We have prepared a short update of the announcements, and the outlook going forward.
While Infosys had missed estimates on both topline and bottomline in the latest quarter, it has maintained a robust revenue guidance for FY22. Through the year, Infosys was able to post robust results due to its record high deal wins, and implementing cost cuts to maintain its revenue and operational profitability. FY21 has been a very good year with superior shareholder returns, backed by robust operating metrics and strong growth across verticals and free cash flows. Infosys shares had gained by 116% in the last financial year.
The Covid-19 pandemic has forced a tectonic shift in business processes to move towards greater digitization. This has helped the IT sector to bounce back faster than other industries. Infosys said that the relevance of its offerings is resonating with its clients in these times. Infosys looks well-poised to expand its market share further in the upcoming quarters.