Infosys Q2: FY23 Revenue & Margin Guidances, Shareholder Rewards & More
By Malvika Gurung
Investing.com — The second largest IT company in India, Infosys (NS:) announced its earnings results for the September 2022 ending quarter post-market hours on Thursday.
The company’s consolidated net profit rose 11.1% YoY and 12.3% sequentially to Rs 6,021 YoY and revenue from operations surged 23.4% YoY and 6% QoQ to Rs 36,538 crore in Q2FY23, both figures in line with the Street’s estimates.
The IT heavyweight upped its FY23 revenue guidance to 15%-16% from 14%-16% earlier and narrowed its margin guidance for the quarter to 21-22% from 21-23%.
The behemoth’s operating margins expanded by 150 basis points sequentially to 21.5%, declining a whopping 2.1% YoY, while the attrition rate lowered to 27.1% from 28.4% in the preceding quarter.
Infosys posted the highest deal wins in Q2 compared to the past 7 quarters, as its total contract value (TCV) stood at $2.7 billion.
“Our strong large deal wins and steady all-round growth in Q2 reflect the deep relevance and differentiation of our digital and cloud solutions for clients as they navigate their business transformation”, said the company’s CEO and MD, Salil Parikh.
The IT major’s board also announced a share buyback of Rs 9,300 crore for a maximum buyback price of Rs 1,850 apiece, along with an interim dividend of Rs 16.5/share, as rewards to shareholders.
By Malvika Gurung
Investing.com — The second largest IT company in India, Infosys (NS:) announced its earnings results for the September 2022 ending quarter post-market hours on Thursday.
The company’s consolidated net profit rose 11.1% YoY and 12.3% sequentially to Rs 6,021 YoY and revenue from operations surged 23.4% YoY and 6% QoQ to Rs 36,538 crore in Q2FY23, both figures in line with the Street’s estimates.
The IT heavyweight upped its FY23 revenue guidance to 15%-16% from 14%-16% earlier and narrowed its margin guidance for the quarter to 21-22% from 21-23%.
The behemoth’s operating margins expanded by 150 basis points sequentially to 21.5%, declining a whopping 2.1% YoY, while the attrition rate lowered to 27.1% from 28.4% in the preceding quarter.
Infosys posted the highest deal wins in Q2 compared to the past 7 quarters, as its total contract value (TCV) stood at $2.7 billion.
“Our strong large deal wins and steady all-round growth in Q2 reflect the deep relevance and differentiation of our digital and cloud solutions for clients as they navigate their business transformation”, said the company’s CEO and MD, Salil Parikh.
The IT major’s board also announced a share buyback of Rs 9,300 crore for a maximum buyback price of Rs 1,850 apiece, along with an interim dividend of Rs 16.5/share, as rewards to shareholders.
