As Infosys shares dived down by 5.8% on Friday to close at Rs 1,815 on the BSE, the fortunes of Narayana Murthy's family took a significant hit, digging approximately Rs 1,900 crore from their combined net worth. The family holds a total of 4.02% stake in Infosys, seeking the value of their holdings dropping to Rs 30,292 crore by following the shares selloff, with cap sliding of Infosys' market to Rs 7.53 lakh crore.
As of the September quarter, Infosys'co-founder and promoter NR Narayana Murthy owned 0.40% stakes in IT, whereas his wife Mrs. Sudha N Murthy holds 0.92%. Murhty's son Rohan Murthy owns 1.62% of the company, while his daughter Akshata Murthy holds a 1.04% stake. She is also the wife of the former UK Prime Minister, Rishi Sunak. The grandson of Narayana Murthy, Ekagrah Rohan Murthy, holds a marginal 0.04% stake in Infosys.
All five members of the Murthy family owned a 4.02% stake in Infosys valued at Rs 30,292 after Friday's decline. Before the stock market plunged, their stake worth was Rs 32,136 on Thursday which represented a substantial loss in net worth due to the sell-off of the market.
Infosys, India's second-largest IT services exporter, reported a robust of 11% year-on-year growth in consolidated net profit for the December quarter at Rs 6,806 crore. From operations, Revenue also rose 8% year-on-year to Rs 41,764 crore. The company revised its revenue guidance upwards to 4.5-5% for the current fiscal year, showcasing confidence in its business trajectory.
Infosys reported strong performance metrics by achieving currency revenue growth of 6.1% year-on-year and 1.7% sequentially. Operating profit increased 12% year-on-year to Rs 8,912 crore, with expanding operating margins by 80 basis points to 21.3%. Infosys' large deal of Total Contract Value (TCV) stood at $2.5 billion from $2.4 billion in the previous quarter.
Despite these strong fundamentals, the sharp decline of stocks affects broader market sentiments and industry challenges. However, the company remains optimistic, as operating project margins are in the range of 20% to 22% for fiscal year 2025.
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