Infosys: Solid Q1 year on year revenue growth of 4.2% at 20.8% operating margins

Strong large deal closures and robust deal pipeline position us well for future growth

Infosys (NSE: INFY), (BSE: INFY), (NYSE:INFY), a global leader in next-generation digital services and consulting, delivered $4,617 million in Q1 revenues with year on year growth of 4.2% and sequential growth of 1.0% in constant currency. Large deal TCV for the quarter was at $2.3 billion, with net new of 56.1%. Operating margin for the quarter was stable at 20.8%. ROE improved 180 bps to 32.8%. Attrition declined further to 17.3%. FY24 revenue guidance revised to 1.0%-3.5% and operating margin guidance retained at 20%-22%.

„We had a solid Q1 with a growth of 4.2% and large deals of $2.3 billion which helps us to set a strong foundation for future growth. Our generative AI capabilities are expanding well, with 80 active client projects. Topaz, our comprehensive AI offering, is resonating well with clients. We see this being transformative for clients and enhancing our overall service portfolio,“ said SALIL PAREKH, CEO AND MD. „We have expanded the margin improvement program with a holistic set of actions for the short, medium and long-term, working on five key areas, supported by our leadership team,“ he added.

Contact:
Sandeep Mahindroo,
+91 80 3980 1018,
Sandeep_Mahindroo@infosys.com ; Media Relations: Rishi Basu,
+91 80 4156 3998,
Rajarshi.Basu@infosys.com AND Harini Babu,
+1 469 996 3516,
Harini_Babu@infosys.com

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