IT Consulting & Software firm Infosys announced Q1FY23 results:

• Revenues in CC terms grew by 21.4% YoY and 5.5% QoQ
• Reported revenues at Rs 34,470 crore, growth of 23.6% YoY
• Digital revenues at 61.0% of total revenues, YoY CC growth of 37.5%
• Operating margin at 20.1%, a decline of 3.6% YoY and decline of 1.4% QoQ
• Basic EPS at Rs12.78, growth of 4.4% YoY
• FCF at Rs 5,106 crore; FCF conversion at 95.2% of net profit

“We are fueling the strong growth momentum with strategic investments in talent through hiring and competitive compensation revisions. While this will impact margins in the immediate term, it is expected to reduce attrition levels and position us well for future growth. We continue to optimize various cost levers to drive efficiency in operations”, said Nilanjan Roy, Chief Financial Officer. “Continued high focus on cash led to strong FCF to net profit conversion at 95.2% and improvement in ROE to 31.0%”, he added.

Result PDF