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

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .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 value 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..Click on the attachment to read the full report:.Infosys Q3 Results: Profit Up 9.2%, Revenue Growth Guidance Raised.More Research Reports On Infosys Q3 FY23 Results Review.Guidance Implies Soft Q4; Signs Of Macro Slowness Discerning: Dolat Capital Strong Bookings To Insulate Near-Term Revenue Growth: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

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

The company indicated that it has a strong pipeline for FY24 and it does contain good proportion of large deals.

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