Infosys: Broad based growth in H1 of 20.1% in constant currency; Q2 margins expand 150 bps sequentially

* Highest large deal TCV of $2.7 bn in last 7 quarters; quarterly attrition declined for 3rd quarter in a row
* Share buyback of ₹9,300 crores ($1.13 bn) and interim dividend of ₹6,940 crores ($0.85 bn) announced

Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, reported strong Q2 performance with year-on-year growth at 18.8% and sequential growth at 4.0% in constant currency. Year-on-year growth was in double digits across all business segments in constant currency terms. Digital comprised 61.8% of overall revenues and grew at 31.2% in constant currency. Operating margin for the quarter increased sequentially by 150 bps to 21.5%. Large deal TCV for the quarter was robust at $2.7 bn, highest in last 7 quarters. FY 23 revenue guidance is revised to 15%-16%; operating margin guidance is also revised to 21%-22%.

„Our strong large deal wins and steady all-round growth in Q2 reflect the deep relevance and differentiation of our digital and cloud solutions for clients as they navigate their business transformation,“ said SALIL PAREKH, CEO AND MD. „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% for FY 23,“ he added.

Contact:
Sandeep Mahindroo,
+91 80 3980 1018,
Sandeep_Mahindroo@infosys.com; Media Relations: Rishi Basu,
+91 80 4156 3998,
Rajarshi.Basu@infosys.com; Harini Babu,
+1 469 996 3516,
Harini_Babu@infosys.com

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