IT major Infosys on Wednesday reported a consolidated net profit of Rs 5,686 crore for the March 2022 quarter, a growth of 12 per cent as compared with Rs 5,076 crore in the year-ago quarter. The company’s revenue jumped 22.7 per cent to Rs 32,276 crore, against Rs 26,311 crore in the March 2021 quarter.
On the outlook, Infosys has given a revenue growth guidance of 13-15 per cent in the constant currency term for the financial year 2022-23. The guidance on operating margin for FY23 is 21-23 per cent.
The company’s total operating expenses during January-March 2022 increased 12.6 per cent to Rs 3,048 crore, compared with Rs 2,707 crore a year ago, according to a BSE filing. Its operating profit witnessed an 8 per cent growth to Rs 6,956 crore in the March 2022 quarter, compared with Rs 6,440 crore.
Sequentially, the company posted a 2.1 per cent fall in its net profit, compared with Rs 5,809 crore in the December 2021 quarter.
Infosys’ digital revenue has witnessed a jump of 38.8 per cent year-on-year in the constant currency term to USD 2.53 billion, accounting for about 59.2 per cent of the company’s total revenues, it said in the filing.
The total contract value of large deal wins stood at USD 2.3 billion during the March 2022 quarter and USD 9.5 billion during the financial year 2021-22.
The company’s total employee count at the end of the March 2022 quarter stood at 3,14,015. Its attrition for IT services stood at 27.7 per cent in the last 12 months, according to the BSE filing.
The company announced that it will pay Rs 16 per share as the final dividend. “In a year marked by intense supply-side challenges, Infosys delivered strong financial performance – EPS (earnings per share) growth of 15.2 per cent, free cash flows surpassing USD 3 billion and return on equity of 29.1 per cent, reflecting the company’s success, driven by client-centricity and rich capabilities,” said Infosys Chief Financial Officer Nilanjan Roy.
He added that the company’s board has proposed a final dividend of Rs 16 per share, taking the total dividend for FY22 to Rs 31 per share, an increase of 14.8 per cent over the prior year.
Its MD and CEO Salil Parekh said, “Infosys delivered the highest annual growth in a decade with broad-based performance, driven by deeply differentiated digital and Infosys Cobalt-led cloud capabilities, powered by ‘One Infosys’ approach. We continue to gain market share as a result of sustained clients’ confidence in our ability to successfully navigate their digital journeys.”
For the full financial year 2021-22, Infosys posted a 14.3 per cent jump in its net profit to Rs 22,110 crore. It had stood at Rs 19,351 crore in the previous financial year. Its revenue during 2021-22 jumped 21.1 per cent to Rs 1,21,641 crore, compared with Rs 1,00,472 crore in the previous financial year.
In the December 2021 quarter, Infosys had posted an 11.8 per cent jump in the consolidated net profit to Rs 5,809 crore from Rs 5,197 crore in the corresponding quarter last year. Its revenue from operations during October-December 2021 rose 22.9 per cent y-o-y to Rs 31,867 crore, compared with Rs 25,927 crore in the year-ago period.
On Monday, India’s largest IT services firm TCS posted a net profit of Rs 9,926 crore for the March 2022 quarter, a jump of 7.35 per cent on a year-on-year basis. Its net profit had stood at Rs 9,246 crore in the corresponding period of the previous financial year. The company’s revenue during January-March 2022 rose 15.75 per cent to Rs 50,591 crore, compared with Rs 43,705 crore in the year-ago period.
For the information sector as a whole, ICICI Securities in its report said, “The growth of Indian IT companies is expected to moderate in Q4FY22 as witnessed in Q4 quarters historically. Margins are expected to take a hit due to continued higher employee expenses. The demand environment continued to be strong led by continued deal momentum led by sectors like BFSI, insurance etc. There would be some cross-currency headwinds during the quarter, which will dampen dollar revenues, to some extent, fourth quarter.”
Read all the Latest Business News and Breaking News here
Comments
0 comment