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Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, delivered its highest Q3 sequential growth of 5.3 per cent in eight years in constant currency.
On a year-on-year basis, revenues grew by 6.6 per cent, digital revenues grew by 31.3 per cent and overall digital revenue crossed more than half of total revenues. Large deal TCV was at an all-time high of 7.13 billion dollars with 73 per cent being net new. Strong and steady operating margin was at 25.4 per cent, according to an official release. Revenue and margin guidance band increased to 4.5 per cent-5.0 per cent and 24.0 per cent-24.5 per cent respectively on the back of continued strong performance. "The Infosys team has delivered another quarter of excellent results. Execution of client relevant strategy focused on digital transformation continues to drive superior growth, well ahead of the industry. The scale of new client partnerships with leading global companies such as Vanguard, Daimler and Rolls-Royce demonstrate the depth of digital and cloud capabilities of Infosys. The commitment and skills of our employees to support and drive the digital journey of clients are matters of great pride for me", said Salil Parekh, CEO and MD. "With the intense focus on client needs and the comprehensive foundation built on differentiated capabilities, I remain confident about the future," he added. In Q3, Infosys further enhanced its digital investments in Infosys Cobalt-- the cloud services, platforms and solutions portfolio launched last quarter. The company expanded the Infosys Cobalt portfolio by unveiling Infosys Modernization Suite to help enterprises modernize their legacy systems and Infosys Live Enterprise Application Management Platform to deliver cloud-powered, managed services for IT operations. Infosys Applied AI converges the power of AI, analytics and cloud to deliver new business solutions and perceptive experiences. Infosys also reached a significant milestone in its ESG journey by becoming carbon neutral in 2020, thirty years ahead of 2050, the timeline set by the Paris Agreement. Infosys reiterated its commitment to Environment, Social and Governance causes by announcing its ESG 2030 vision and ambitions. "The resilience of Infosys has been severely tested over the past several quarters and I am delighted with our response marked by strong revenue performance, large deal wins, healthy operating metrics and continued low attrition", said Pravin Rao, COO. "Navigating your next strategy coupled with razor-sharp focus on our operating model and efficiencies continues to deliver superior shareholder value creation," said Nilanjan Roy, CFO. (ANI)
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