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Business News/ Companies / Company Results/  Infosys Q3 profit up 12% to 5,809 cr, revises FY22 revenue guidance upwards

Information Technology giant Infosys reported consolidated net profit of 5,809 crore for the three months ending 31 December, 2021 (Q3FY22), an increase of 12% from 5,197 crore clocked in the same period last year.

Meanwhile, its revenue from operations rose 23% at 31,867 crore as against 25,927 crore in the year-ago period.

The company has revised revenue guidance for FY22 upwards to 19.5%-20%, powered by sequential growth of 7% in Q3.

On Wednesday, ahead of the results, Infosys scrip rose 1.09% to close at 1,875 apiece on NSE. In the last one year, the stock has surged 36.65% comfortably beating the Nifty IT index which gained 24.75% in the same period.

Infosys said growth remained broad-based during the quarter and deal momentum robust, with digital transformation rapidly scaling across verticals and regions.

Large deal wins accelerated with TCV of $2.53 billion in Q3. Operating margin for the quarter was healthy at 23.5%, with free cash flow conversion at 92.6%.

"Our strong performance and market share gains are a testament to the enormous confidence our clients have in us to help them in their digital transformation. This stems from four years of sustained strategic focus on areas of relevance for our clients in digital and cloud, continued re-skilling of our people, and deep relationships of trust that our clients have with us. This is reflected in an upgrade in our revenue guidance to 19.5%-20% for FY22. We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations", said Salil Parekh, CEO and MD of Infosys.

“I am immensely proud of the relentless commitment of our employees during these challenging times and grateful for their extraordinary efforts in delivering success for our clients", he added.

“Despite the cost escalations driven primarily by supply side challenges, we delivered another quarter of healthy margins, with improved cost optimization, continued operating leverage and a stable pricing environment", said Nilanjan Roy, CFO of Infosys.

Infosys attrition rate has risen massively to 25.5% from 20.1% in the previous September quarter and 11% in the same period last year.

To combat rising attrition levels, the company said it has increased hiring to over 55,000 for the current financial year.

“We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program to over 55,000 for FY22 to support our growth ambitions", he added.

Other highlights of Infosys Q3 earnings

- The revenues in Constant Currency terms grew by 21.5% over a year ago and 7% when compared with the previous quarter.

- The company's reported revenues in dollar terms came in at $4,250 million, representing a growth of 20.9% year-on-year.

- Segment wise, meanwhile, digital revenues were at 58.5% of total revenues, showing year-on-year CC growth of 42.6%

- The operating margins have declined 2% over last year at 23.5%.

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Updated: 12 Jan 2022, 06:06 PM IST
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