BENGALURU, Jan 17: Infosys shares plummeted nearly 6% on Friday, closing at Rs 1,812.70 on the Bombay Stock Exchange (BSE), resulting in a significant Rs 1,900 crore reduction in the wealth of Infosys co-founder NR Narayana Murthy’s family.
The family, collectively holding a 4.02% stake in the IT giant, witnessed the value of their holdings drop to Rs 30,334 crore as Infosys’ market capitalisation declined to Rs 7.54 lakh crore.
As per the September quarter, Narayana Murthy owned a 0.40% stake in Infosys, while his wife, Sudha N Murty, held 0.92%. Their son, Rohan Murty, controlled the largest share among the family members at 1.62%, followed by their daughter, Akshata Murty (wife of former UK Prime Minister Rishi Sunak), with 1.04%. Narayana Murthy’s grandson, Ekagrah Rohan Murty, held a marginal 0.04% stake.
This sharp decline in the family’s wealth comes despite Infosys reporting a strong performance for the December quarter. The company posted an 11% year-on-year increase in consolidated net profit, reaching Rs 6,806 crore, along with an 8% YoY growth in revenue from operations to Rs 41,764 crore.
Infosys also raised its revenue growth guidance for FY25 to 4.5%-5%, underscoring confidence in its business outlook. The quarter recorded constant currency revenue growth of 6.1% YoY and 1.7% sequentially, while operating profit rose by 12% YoY to Rs 8,912 crore.
The company’s operating margins improved by 80 basis points to 21.3%. Large deal total contract value (TCV) for the quarter stood at $2.5 billion, up slightly from $2.4 billion in the previous quarter.
Despite its robust financial performance, the stock’s sharp decline reflects broader market sentiment and challenges facing the IT sector. Nevertheless, Infosys remains optimistic, maintaining a projected operating margin range of 20%-22% for FY25.
(UNI)
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