Infosys: Strong growth of 13.7% in constant currency in a seasonally weak quarter
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Thursday, January 12, 2023
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BENGALURU, India, Jan. 12, 2023 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, reported strong Q3 performance with year-on-year growth at 13.7% and sequential growth at 2.4% in constant currency. Year on year growth was in double digits for most business segments and geographical regions in constant currency terms. Large deal TCV for the quarter was the strongest in the last 8 quarters at $3.3 billion. Digital comprised 62.9% of overall revenues and grew at 21.7% in constant currency. Operating margin for the quarter remained resilient at 21.5%. FY23 revenue guidance revised to 16.0%-16.5%. FY23 operating margin guidance retained at 21%-22%.
Key Points:
- "Attrition reduced meaningfully during the quarter and is expected to decline further in the near-term," he added.
- $0.6 billion*) or 51.5% of total authorization of ₹9,300 crore at an average price of approx.
- Centric Brands has selected Infosys to be a strategic technology partner to provide a range of digital, IT, business operations and transformation services.
- Infosys received the Great Place to Work® Certification across five regions including India, Australia, United Kingdom, Germany, and Mexico.