Infosys Ltd.’s revenue rose in the fourth quarter on deal wins and increased client spending on digital services, helping the IT company to meet its own growth estimates for the full fiscal.
The software services exporter’s revenue increased 1.28% sequentially to Rs 32,276 crore in the three months through March, according to its exchange filing. That compares with the Rs 32,726.9-crore consensus estimates of analysts tracked by Bloomberg.
Its revenue growth for the fiscal ended March stood at 20.3%. Infosys had guided for 19.5-20% revenue growth for FY22. For 2022-23, it expects growth to be at 13-15%.
“The revenue guidance of 13-15% is a good guidance,” said Salil Parekh, managing director and chief executive officer at Infosys.
The company forecasts operating profit margin at 21-23% for FY23. “We are comfortable in maintaining this band,” said Nilanjan Roy, chief financial officer at Infosys. “As we get into discussion with the clients during renewals, we will look at pushing the margins.”
Infosys Highlights Q4 FY22 (QoQ)
Revenue in U.S. dollar terms rose 0.7% to $4,280 million.
Revenue growth in constant currency terms stood at 1.2%.
Net profit fell 2.12% to Rs 5,686 crore, against the Rs 5,968-crore forecast.
EBIT margin stood at 21.5% against 23.5% in Q3.