Infosys on Thursday, January 12, posted a 13.4 per cent year-on-year increase in consolidated net profit at Rs 6,586 crore for the December quarter and the IT major raised its full year revenue guidance to 16-16.5 per cent. Here are five things to know:
> The Bengaluru-based IT firm logged a 20 per cent year-on-year increase in consolidated revenue in the third quarter of the current fiscal at Rs 38,318 crore. It also raised full year revenue guidance to 16-16.5 per cent against the previously projected band of 15-16 per cent. The results beat street estimates on both profit and revenue. "Year-on-year growth was in double digits for most business segments and geographical regions in constant currency terms," Infosys said in a statement.
> Large deal TCV (total contract value) 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%. Basic Earnings Per Share stood at Rs 15.72 with a year-on-year growth of 13.4%.
> Infosys said it started share buyback program through open market route from December 7, 2022 and till date, the company has bought back 31.3 million shares worth Rs 4,790 crore or 51.5% of total authorisation of Rs 9,300 crore at an average price of around Rs 1,531 per share (compared to maximum Buyback Price of Rs 1,850 per share).
> Infosys CEO and MD Salil Parekh said the company continues to gain market share as a trusted transformation and operational partner for clients, as reflected in the large deals momentum. "Our revenue growth was strong in the quarter, with both digital business and core services growing. This is a clear reflection of our deep client relevance, industry-leading digital, cloud, and automation capabilities, and the unrelenting dedication of our employees," he said.
> â€śOperating margins in Q3 remained resilient due to cost optimisation benefits which offset the impact of seasonal weakness in operating parameters. Attrition reduced meaningfully during the quarter and is expected to decline further in the near-term,â€ť said Nilanjan Roy, Chief Financial Officer.