Infosys net profit rose 22.7 per cent to ₹5,195 crore, a tad lower than street estimates, while revenues grew 17.9 per cent to ₹27,896 crore year on year basis for FY21-22.
The IT major also raised its revenue guidance upwards for FY22 to 14 -16 per cent.
Large deal flows remained strong with TCV of $2.6 billion in Q1. The operating margin for the quarter was robust at 23.7 per cent, with Free Cash Flows growing by 18.5 per cent year on year. “Driven by the dedication of our employees and the trust of our clients, we grew at the fastest pace in Q1 in a decade, at 16.9 per cent year-on-year and 4.8 per cent quarter-on-quarter in constant currency. I am proud of our employees, who as ‘One Infosys’ demonstrate resilience and commitment in delivering for our clients. This gives us confidence to increase our revenue growth guidance to 14 per cent-16 per cent”, said Salil Parekh, CEO and MD. “As Infosys completes forty remarkable years, its continuing success and global impact are a testament to the vision of the founders and all the leaders who have shaped the company,” he added.
“Employee wellbeing is of paramount importance to us, and we have had multiple interventions in this regard, including facilitating vaccination for them and their dependents. We rolled out several intense employee engagement initiatives including career acceleration opportunities, compensation reviews and learning & development interventions. Our clients continue to be supportive of the multiple initiatives we have undertaken; they value the delivery commitments we have met even during these extraordinary times”, said Pravin Rao, Chief Operating Officer, Infosys. “As the demand for digital talent explodes, rising attrition in the industry poses a near-term challenge. We plan to meet this demand by expanding our hiring program of college graduates for FY 22 to ~35,000 globally”, he added.