India

Infosys: Industry leading FY23 revenue growth of 15.4% with healthy 21.0% operating margins

Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, delivered $18.2 billion in FY23 revenues with industry-leading growth of 15.4% in constant currency and operating margins of 21.0%. Growth was broad-based across industry verticals and geographical regions. Digital comprised 62.2% of overall revenues and grew at 25.6% in constant currency.

Q4 year on year growth was 8.8% and sequential decline was 3.2% in constant currency terms. Operating margin for the quarter was 21.0%. Free cash flow conversion was 95.7% for Q4. Continuing the recent trend, attrition declined further in Q4.

"Our strong performance in FY23 is a testimony to the continued focus on digital, cloud and automation capabilities which resonated with our clients. We have launched exciting programs with our clients leveraging generative AI platforms," said Salil Parekh, CEO and MD. "As the environment has changed, we see strong interest from our clients for efficiency, cost and consolidation opportunities, resulting in a strong large deal pipeline. We have expanded our internal program on efficiency and cost to build a path to higher margins in the medium term. We continue to invest in our people and in supporting our clients," he added.

"Our continued focus on cost optimization and operational efficiencies have helped in achieving operating margins of 21.0% in FY23", said Nilanjan Roy, Chief Financial Officer. "Free cash generation in Q4, led by robust collections, was strong. Executing on our capital allocation policy, we successfully completed the share buyback and have proposed a final dividend of `17.50 for FY23", he added.

More information on the results can be found here: https://en.prnasia.com/releases/apac/infosys-industry-leading-fy23-revenue-growth-of-15-4-with-healthy-21-0-operating-margins-399961.shtml