Operating margin for the quarter remained resilient at 21.5 per cent
Infosys on Thursday reported strong Q3 performance with year-on-year (YoY) growth at 13.7 per cent and sequential growth at 2.4 per cent in constant currency. The company reported its revenues at Rs 38,318 crore in Q3 FY23 from Rs 31,867 crore in Q3 FY22, growth of 20.2 per cent YoY.
Infosys said that its YoY growth was in double digits for most business segments and geographical regions in constant currency terms. Large deal TCV for the quarter was the strongest in the last 8 quarters at USD 3.3 billion. Digital comprised 62.9 per cent of overall revenues and grew at 21.7 per cent in constant currency.
Operating margin for the quarter remained resilient at 21.5 per cent. FY23 revenue guidance revised to 16.0 per cent-16.5 per cent. FY23 operating margin guidance retained at 21 per cent-22 per cent. In a statement, Nilanjan Roy, Chief Financial Officer said, “Operating margins in Q3 remained resilient due to cost optimisation benefits which offset the impact of seasonal weakness in operating parameters.”
Infosys’ headcount improved from 3,46,845 in Q3 FY23 from 3,45,218 Q2 FY23. While its voluntary attrition came down to 24.3 per cent from 27.1 per cent sequentially. “Attrition reduced meaningfully during the quarter and is expected to decline further in the near-term,” he added.