Infosys Q3 Results Review - Strong TCV Bookings; Revenue Guidance Increased Further: ICICI Direct

ICICI Direct Report

In a seasonally weak Q3 Infosys Ltd. reported strong revenue numbers reporting revenue of $4,659 million, up 2.3% QoQ, 9.6% YoY. In constant currency terms, the company reported growth of 2.4% QoQ & 13.7% YoY.

In rupee terms, Infosys reported revenue of Rs 38,318 crore, up 4.9% QoQ and 20.2% YoY.

Digital revenues (62.9% of the revenue mix) grew 4% QoQ to $2,930 million while core revenues (37.1% of the revenue mix) declined by 0.5% QoQ. In CC terms, digital revenue grew 21.7% YoY while core revenue grew 2.4%.

Geography wise (in CC terms on a YoY basis), Europe region (25.8% of mix) reported a second successive quarter of 25% up growth with growth of 25.3% while the North America market (62% of mix), impacted by furlough, reported growth of 10.5%. Rest of world region reported growth of 11.9% while India revenue declined 5.4%.

During the quarter, Infosys won 32 large deals with a total contract of $3.3 billion, up 22.2% QoQ. The company indicated that 36.3% of the TCV was of net new deals. The TCV wins were highest since Q4 FY21 and indicated that its demand pipeline remains strong despite a challenging environment.

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More Research Reports On Infosys Q3 FY23 Results Review

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