Infosys Share Price Plunge

India's second-largest IT services firm, Infosys, saw its shares drop by nearly 6% to Rs 1,812.70 on the BSE. This significant decrease has resulted in a substantial reduction of approximately Rs 1,900 crore in Narayana Murthy's combined family net worth.

The market value of the Murthy family's 4.02% stake in Infosys decreased to Rs 30,334 crore, while the company's market capitalization declined to Rs 7.54 lakh crore, according to an ET report.

Family Holdings in Infosys

According to September quarter holdings, Infosys co-founder NR Narayana Murthy owned 0.40% of the company, Sudha N Murty held 0.92%, Rohan Murty possessed 1.62%, and Akshata Murty (Rishi Sunak's wife) maintained 1.04%. Ekagrah Rohan Murty, Narayana Murthy's grandson, held a 0.04% stake in the company.

The collective 4.02% ownership of these five family members was valued at Rs 30,334 crore following Friday's decline, indicating a considerable decrease from Thursday's valuation of Rs 32,236 crore.

Infosys Financial Performance

Despite the share price plunge, Infosys reported strong financial results for the December quarter, including an 11% year-on-year increase in consolidated net profit to Rs 6,806 crore. The company's operational revenue grew by 8% YoY to Rs 41,764 crore, leading to an upward revision of revenue guidance to 4.5%-5% for the current fiscal year.

The company achieved constant currency revenue growth of 6.1% YoY and 1.7% sequentially. Operating profit rose by 12% YoY to Rs 8,912 crore, with operating margins improving by 80 basis points to 21.3%. The quarter's large deal total contract value reached $2.5 billion, slightly higher than the previous quarter's $2.4 billion.

Infosys maintains a positive outlook, forecasting operating margins between 20-22% for FY25.