IT services giant Infosys Ltd. (NYSE: NFY) reported revenue rose 8.8% on a constant currency basis in its fiscal fourth quarter ended March 31 to $4.55 billion. Gross margin narrowed.

For the full year, Infosys noted revenue was up 15.4% in constant currency reflecting broad-based growth across verticals and geographies.

 “Our strong performance in FY23 is a testimony to the continued focus on digital, cloud and automation capabilities which resonated with our clients,” said Salil Parekh, CEO and managing director of Infosys.

Parekh noted the company is seeing interest in clients for efficiency, cost and consolidation opportunities.

Guidance

Infosys forecast revenue growth of between 4% and 7% in constant currency for fiscal year 2024.

Share price and market cap

Infosys shares trading in New York were down 9.11% to $15.52 as of 1:10 p.m. Eastern time; they set a new 52-week lower earlier in the day when they reached $15.41, according to FT.com. The company has a market cap of $72.01 billion.