Infosys reports 13.9% growth in revenue to $4.55 bn

Infosys has reported 13.9 percent growth in revenues to $4.555 billion during July-September 2022.
infosys-job-in-technologyInfosys said digital revenues rose 31.2 percent and accounts for 61.8 percent of total revenues. Infosys said operating margin at 21.5 percent, decline of 2.1 percent YoY and increase of 1.5 percent QoQ.

Salil Parekh, CEO and MD of Infosys, said: “While concerns around the economic outlook persist, our demand pipeline is strong as clients remain confident in our ability to deliver the value they seek, both on the growth and efficiency of their businesses. This is reflected in our revised revenue guidance of 15-16 percent for FY 23.”

Infosys said it now expects revenue growth of 15 percent-16 percent for the financial year to March, higher than the 14 percent-16 percent increase it forecast in July.

The company trimmed its operating margins guidance for the year to 21 percent-22 percent, from the forecast of 21 percent-23 percent it gave in July.

Infosys’s raised forecast is in contrast to its rivals, who have issued cautious outlooks so far due to the challenging macro-environment and fears of an economic meltdown in their major markets of the U.S. and Europe.

Earlier this week, Tata Consultancy Services (TCS) said clients are taking longer to decide on bigger deals. Wipro gave a weak outlook for the current quarter.

Infosys, India’s second-largest IT services company by revenue, said the total employees reached 345,218 on Sep 30, 2022 from 335,186 on Jun 30, 2022 and 279,617 on Sep 30, 2021.

Infosys said the total software professionals reached 328,146 on Sep 30, 2022 from 318,447 on Jun 30, 2022 and 264,918 on Sep 30, 2021.