Infosys, India’s second-largest IT services company, on Thursday posted a net profit at Rs 6,128 crore for the fourth quarter ended March 2023 (Q4 FY23), a jump of 7.8 per cent over the year-ago period. Its revenues during January-March 2023 increased 16 per cent to Rs 37,441 crore, compared with Rs 32,276 crore a year ago.
The net profit of Infosys had stood at Rs 5,686 crore in the corresponding period last year.
In dollar terms, Infosys revenue during Q4 stood at $4,554 million, a rise of 6.4 per cent as compared with $4,280 million a year ago, according to a regulatory filing.
Infosys also recommended a final dividend of Rs 17.50 per equity share for the financial year ended March 31, 2023. The company’s earnings per share also rose to Rs 14.79, from Rs 13.54 in the December 2022 quarter.
In guidance for FY24, Infosys expects a revenue growth of 4-7 per cent in constant currency terms during the current financial year. It also expects an operating margin of 20-22 per cent.
For the full financial year 2022-23, Infosys’ net profit saw a rise of 9 per cent to Rs 24,095 crore, compared with Rs 22,110 crore in the year ended March 31, 2022. Its revenue during the year jumped 20.7 per cent to Rs 1,46,767 crore, from Rs 1,21,641 crore a year ago.
Infosys operating margin stood at 21 per cent, compared with 21.5 per cent a year ago and 21.5 per cent in the previous quarter.
Infosys’ IT services attrition saw a decline to 20.9 per cent during the March 2023 quarter, compared with 24.3 per cent in December 2022 quarter and 27.7 per cent in the March 2022 quarter.
The total number of Infosys employees stood at 3,43,234 as on March 31, 2023, lower by 3,611 than 3,46,845 as on December 31, 2022. However, it was higher than the 3,14,015 headcount as on March 31, 2022.
Salil Parekh, CEO and MD of Infosys, said, “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.”
He added that as the environment has changed, infosys sees strong interest from its 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.”
Nilanjan Roy, chief financial officer of Infosys, said, “Our continued focus on cost optimisation and operational efficiencies have helped in achieving operating margins of 21 per cent in FY23.”
He added that 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.”
Read all the Latest Business News, Tax News and Stock Market Updates here
Comments
0 comment