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Infosys Q3 results: Profit jumps 12% YoY to Rs 5,809 crore; firm raises FY22 revenue guidance – Economic Times

NEW DELHI: IT major on Wednesday said its consolidated net profit for the quarter ending December climbed 11.8 per cent to Rs 5,809 crore from Rs 5,197 crore in the corresponding quarter last year.

The company said its revenue from operations increased 22.91 per cent year-on-year (YoY)to Rs 31,867 crore. The figure stood at Rs 25,927 crore in the same quarter last year.

The company upgraded its revenue guidance to 19.5 per cent -20 per cent for FY22. Earlier it had estimated growth at 16.5-17.5 per cent in constant currency.

The Bengaluru-based firm said it delivered a strong Q3 performance with sequential growth in a seasonally weak quarter. Infosys outlined that its growth remained broad-based and deal momentum robust, with digital transformation rapidly scaling across verticals and regions.

“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. We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations,” said Salil Parekh, CEO and MD at Infosys.

Large deal wins accelerated with total contract value (TCV) of $2.53 billion in Q3. The operating margin for the quarter was healthy at 23.5 per cent, with free cash flow conversion at 92.6 per cent.

The company said its operating margin during the quarter was at 23.5 per cent. It declined 1.9 per cent YoY and 0.1 per cent QoQ. Free cash flow stood at $719 million, down 6.9 per cent YoY. Infosys’ digital revenues was 58.5 per cent of total revenues.

“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, Chief Financial Officer, Infosys.