This update follows a series of communications, including a pre-show cause notice issued by DGGI for the period from July 2017 to March 2022. The total GST amount cited in the notice was ₹32,403 crore. Infosys previously confirmed on August 3, 2024, that DGGI had closed the pre-show cause notice for the financial year 2017-18.
“The company received a communication from DGGI on August 3, 2024, indicating the closure of pre-show cause notice proceedings for the financial year 2017-2018. With the receipt of today’s communication from DGGI, this matter is now closed,” Infosys stated in a regulatory filing.
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For the March quarter, Infosys reported a net profit of ₹7,033 crore, which fell short of the CNBC-TV18 poll estimate of ₹7,278 crore. The company’s profit increased by 3.3% from ₹6,806 crore in the December quarter. Revenue in dollar terms saw a decline of 4.2% quarter-on-quarter, compared to CNBC-TV18’s forecast of a 1.4% drop.
In rupee terms, Infosys’ revenue was below expectations at ₹40,925 crore, while a CNBC-TV18 poll had anticipated the figure to be ₹42,133 crore. This reflects a 2% decline from ₹41,764 crore in the December quarter.
Infosys’ earnings before interest and tax (EBIT) reached ₹8,575 crore, which was also less than the anticipated ₹8,742 crore. On a sequential basis, Infosys experienced an EBIT decline of 3.7%.
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In constant currency terms, Infosys reported a revenue decline of 3.5% sequentially, while a CNBC-TV18 poll had projected a growth decline of 1.1% quarter-on-quarter.
On Friday (June 6), shares of Infosys Ltd closed at ₹1,564.05, up by ₹9.70, or 0.62%, on the BSE.
First Published: Jun 7, 2025 1:26 PM IST
