Infosys has posted revenue of $4.894 billion during July-September 2024, achieving sequential growth of 3.1 percent and year-on-year growth of 3.3 percent.
Infosys said its operating margin for Q2 was at 21.1 percent.
TCV of large deal wins was $2.4 billion, 41 percent being new.
“The growth was broad based with good momentum in financial services. This stems from our strength in industry expertise, market leading capabilities in cloud with Cobalt and generative AI with Topaz,” said Salil Parekh, CEO and MD of Infosys. “Our large deals at $2.4 billion in Q2 reflect our differentiated position.”
Infosys is expecting revenue growth of 3.75 percent-4.50 percent with operating margin of 20 percent-22 percent for financial year 2025.
“Operating margins for the quarter was at 21.1 percent, driven by continued benefits from value-based pricing and utilization despite higher employee payouts,” said Jayesh Sanghrajka, CFO of Infosys.
Infosys has generated 27.2 percent of its total revenue from Financial Services, 13.3 percent from Retail, 11.9 percent from Communication, 13.5 percent from Energy, Utilities, Resources & Services, 15.7 percent from Manufacturing, 8 percent from Hi-Tech, 7.3 percent from Life Sciences and 3.1 percent from Others.
Infosys generated 57.4 percent of its total revenue from North America, 29.8 percent from Europe, 9.7 percent from Rest of the world, and 3.1 percent from India.
Infosys has added 88 new clients during the July-September quarter. Infosys has 1,870 clients at the end of September.
Infosys has 985 clients with $1 million + billing, 307 clients with $10 million + billing, 86 with $50 million + billing and 41 clients with $100 million billing.
Infosys said the number of employees has reached 317,788 at the end of September as compared with 315,332 at the end of June 2024. The number of software professionals at Infosys has reached 300,774 vs 298,123. Voluntary attrition at Infosys was 12.9 percent at the end of September.
Analyst firm Gartner said Infosys has established itself to be a trustable partner, delivering a wide range of digital services and products that are relevant, focussed, and solution oriented for customers. It continues to win new, large, and long-term business, delivering steady performance throughout.
“Some clients cited concerns around their product roadmap planning and change management but expressed overall satisfaction with the company’s ability to deliver operations. The company has been able to create nondisruptive innovation through its Topaz’s GenAI capabilities and Cobalt’s core services, allowing it to innovate while maintaining integrity of its core offerings,” Ishan Anand, Principal Analyst, Gartner, said.
Baburajan Kizhakedath
