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    New WHO guidelines for clinical management of arboviral diseases: dengue, chikungunya, Zika and yellow fever

    Air Canada Celebrates Canada Day with Limited-time Fare Discounts for Customers Flying from India

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

    Sri Lanka Tourism boosts Indian MICE Engagement with Dynamic and Exclusive Networking Evening in TAJ Krishna, Hyderabad

    European Leaders Join Forces to Drive Growth and Innovation  

    Boeing Names Stephen Parker as CEO of Defense, Space & Security

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    Tanya Singh: A Pillar of AIGIN Group’s Sales Success for Over 14 Years

    Asia Jewels Show 2025 – South India’s Most Glamorous Jewellery Exhibition Opens in Bengaluru

    AWS Expands Space Accelerator Program to Boost Startup Ecosystems in India, Japan, and Australia

    GCC 5.0 and the Viksit Bharat Vision: India’s Global Capability Centres Step into a New Era

    Rabitat Raises INR 40 Crore (USD 5 Million) in Series A Funding, Accurize Startgrowers Acts as Exclusive Financial Advisor

    Blue Dart Launches “Rakhi Express Campaign”, Offering Up to 50% Off for Festive Shipments

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    Tata Elxsi delivers resilient performance in Q1’26

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    New WHO guidelines for clinical management of arboviral diseases: dengue, chikungunya, Zika and yellow fever

    “This will connect home and medical care, enabling early detection of deteriorating condition and appropriate intervention”-Ayumu Okada, Representative Director, President & CEO, OMRON Healthcare Co. Ltd.

    Michelin-Starred Chef Shane Osborn Makes India Debut at Le Cirque Signature, The Leela Palace Bengaluru on July 11th & 12th, 2025.

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    Industry leaders unveil innovative solutions for print, branding, signage and digital displays.

    “This University Is Not Just an Institution—It’s a Mini City of Engineers”: Union Minister Scindia

    SatSure and Dhruva Space Unite to Launch India’s First Full-Stack Earth Observation-as-a-Service Ecosystem

    “SEZs can be a bridge between Indian and global aerospace and defence industries via Startup India.”-Piyush Goyal ,Union Minister for Commerce and Industry 

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

  • Auto

    BattWheelz Partners with BGauss to Drive Clean Delivery Revolution in India

    The new Volvo ES90: a big electric car with a small carbon footprint

    Stellantis Pro One announces start of production in the Italian Atessa plant of new versions of the Large Van “Cargo Box” and Recreational Vehicles

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  • Sports

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Infosys: Industry leading revenue growth in Q1 lays robust foundation for the year

by FWM
July 24, 2022
in Business
0

Infosys Logo (PRNewsfoto/Infosys)

FY 23 Revenue guidance increased to 14%-16%.
 –  Margin guidance retained at 21%-23%

BENGALURU, India, July 24, 2022 — Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, delivered a robust performance in Q1 with year-on-year growth at 21.4% and sequential growth at 5.5% in constant currency. Year on year growth was in double digits across all business segments in constant currency terms. Digital accounted for 61.0% of overall revenues, growing at 37.5% in constant currency. Net hiring was strong at 21,171. Operating margin for the quarter was 20.0%, with Free Cash Flow conversion at 95.2% of net profit.

“Our strong overall performance in Q1 amidst an uncertain economic environment is a testament to our innate resilience as an organization, our industry-leading digital capabilities and continued client-relevance. We continue to gain market share and see a significant pipeline driven by our Cobalt cloud capabilities and differentiated digital value proposition,” said Salil Parekh, CEO and MD. “We are investing in rapid talent expansion while ensuring rewarding careers for our employees, to better serve evolving market opportunities. This has resulted in a strong performance in Q1 and increase in FY 23 revenue guidance to 14%-16%,” he added.

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1.  Key highlights for the quarter ended June 30, 2022

  • Revenues in CC terms grew by 21.4% YoY and 5.5% QoQ
  • Reported revenues at $4,444 million, growth of 17.5% YoY
  • Digital revenues at 61.0% of total revenues, YoY CC growth of 37.5%
  • Operating margin at 20.0%, decline of 3.7% YoY and decline of 1.5% QoQ
  • Basic EPS at $0.16, decline of 1.1% YoY
  • FCF at $656 million; 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.

2.  Client Wins & Testimonials

  • Infosys and Rolls-Royce extended their strategic collaboration with the launch of a joint ‘Aerospace Engineering and Digital Innovation Centre’ in Bengaluru, India. Speaking about the new centre, Kishore Jayaraman, President – India and South Asia, Rolls-Royce, said, “Our strategic partnership with Infosys presents an exciting opportunity for both companies to leverage combined strengths in engineering and digital innovation to accelerate growth in the civil aerospace market. Given the aerospace sector is poised for revival and growth in India and across the world, this joint innovation centre will strengthen Rolls-Royce’s global engineering ecosystem and position us well for the future.”

  • Infosys launched the Infosys Cobalt Financial Services Cloud, an industry cloud platform for enterprises across the financial services industry to accelerate business value in the cloud. Dave Cosgrove, Global Head of Settlements & Middle Office, MarketAxess, said, “MarketAxess is leveraging the Infosys Cobalt Financial Services Cloud platform for reconciliation as a service on cloud. This is helping us scale the reconciliation process on-demand while improving accuracy and transparency. Leveraging the reconciliation service on Infosys Cobalt Financial Services Cloud enabled us to go-live quickly without significant capex investments and ongoing maintenance thereby, bringing the power of cloud agility and usage-based pricing model to a critical business process.”

  • Infosys and Google Cloud have been selected by Backcountry to help them deliver seamless and secure digital experiences for outdoor enthusiasts. Vismay Thakkar, VP of Technology, Backcountry, said, “As we enter the Spring season and our customers embark on more outdoor adventures, we anticipate heightened demand for our products, which is why we’re opening new brick-and-mortar stores to meet their needs in any format. Infosys offers the necessary skills and resources to deliver a secure and seamless customer experience, virtually or in-person, which is why our collaboration is proving to be so powerful.”

  • Infosys collaborated with TK Elevator to revamp their digital workplace management, network security, and IT infrastructure, powered by Infosys Cobalt. Susan Poon, Global CIO at TK Elevator, said, “At TK Elevator, IT infrastructure is the core of our digital initiatives, and we continuously strive to provide state-of-the-art user services. With Infosys as a strategic partner, we are confident to achieve our target of automation, innovation, and efficiency across the IT landscape.”

  • EisnerAmper, one of the largest accounting, tax, and business advisory firms in the U.S., selected RISE with SAP. Sanjay Desai, CTO EisnerAmper said, “Infosys is implementing a flexible and scalable solution like SAP S/4HANA Public Cloud to help EisnerAmper meet their growth ambitions over the coming years.”

 

FWM

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