SOURCE : NEW18 NEWS
Last Updated:January 18, 2025, 16:49 IST
Narayana Murthy News: After Infosys share price drop, the family’s stake was valued at about Rs 30,300 crore, down from Rs 32,152 crore a day earlier — a notional loss of over Rs 1,850 crore.
Infosys co-founder N R Narayana Murthy’s family together owns a combined 4.02 per cent stake in the IT company. (File photo/ PTI)
A 6 per cent decline in Infosys shares on Friday pulled down the wealth of its co-founder N R Narayana Murthy’s family by Rs 1,850 crore. Together, the Murthy family owns a combined 4.02 per cent stake in Infosys.
Following the share price drop, the family’s stake was valued at about Rs 30,300 crore, down from Rs 32,152 crore a day earlier — a notional loss of over Rs 1,850 crore. The updated shareholding pattern for Infosys as of December is yet to be disclosed.
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Narayana Murthy holds a 0.40 per cent stake in Infosys, while his wife Sudha N Murty owns 0.92 per cent. Their son Rohan Murty and daughter Akshata Murty — the wife of former UK Prime Minister Rishi Sunak — hold 1.62 per cent and 1.04 per cent stakes, respectively. Narayana Murthy’s grandson, Ekagrah Rohan Murty, has a marginal 0.04 per cent stake in the IT giant.
Infosys Stock Decline and Q3 Performance
Infosys’ shares dropped nearly 6 per cent to a low of Rs 1,832 on Friday, January 17, following the company’s Q3 earnings report. Despite posting an 11% YoY growth in consolidated net profit, which reached Rs 6,806 crore, the results did not boost investor sentiment on D-St. Revenue from operations also rose by 8 per cent YoY to Rs 41,764 crore.
While Infosys’ October-December earnings exceeded market expectations, its revised revenue growth guidance, signaling a potentially weaker Q4, may have contributed to the decline in its stock price.
The IT major reported strong deal wins in Q3, leading the management to revise its FY25 revenue growth forecast to 4.5-5% in constant currency terms. However, analysts, including Jefferies, pointed out that although the Q3 beat led to an upward revision of FY25 revenue guidance, the unchanged Q4 forecast suggests possible seasonal weakness.
BoFA Securities shared a similar view, projecting a 1% sequential revenue decline in Q4, driven by potential reductions in third-party items or cautious management positioning.
In response to these concerns, the company acknowledged the possibility of a softer Q4 during its post-earnings call, attributing it to factors such as furloughs, fewer working days, and a reversal of third-party revenue.
Infosys Salary Hike
Infosys on Thursday said it will implement annual salary hikes of 6-8 per cent for employees in India. The pay increments, set to take effect in January 2025, mark the first phase of N R Narayana Murthy-led company’s planned salary revisions, with the second phase scheduled for April 2025. Employees outside India are likely to receive low single-digit increments.
“Broadly, the comp (annual salary increment) that we are expecting is 6-8 per cent in India, and the overseas comps will be in line with the earlier comp reviews,” Infosys Chief Financial Officer Jayesh Sanghrajka said on Thursday, during a press briefing following the announcement of the company’s Q3FY25 results.
