Infosys Reports Strong Q4 FY2023 Results, with 16% Revenue Growth and 25.6% Rise in Digital Revenues

Highlights

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• Infosys Q4 FY2023 results show a 16% increase in revenue to Rs 37,441 crore from Rs 32,276 crore in Q4 FY2022.
• Net profit for the quarter increased by 7.8% YoY to Rs 6,128 crore.
• Infosys declared a final dividend of Rs 17.5 per share for the fiscal year.
• Digital revenues grew by 15% YoY, accounting for 62.9% of the company's total revenues.
• The company added 115 new clients, bringing its total client base to 1,872.
• Operating margin was 21%, aided by cost optimization measures and higher utilization.
• Employee strength reduced by 3611 to 3,43,234.
• Attrition rate stood at 20.9% down from 24.3% in Q3 FY 2023, reflecting efforts to retain talent and enhance employee engagement.

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Infosys, one of the leading IT companies in India, announced its fourth quarter results for the financial year 2023 on Thursday, April 13. The company reported a 7.8% increase in net profit to Rs 6,128 crore, and a 16% increase in revenue to Rs 37,441 crore, compared to the same period last year. The company also declared a final dividend of Rs 17.5 per share for the fiscal year.

The company's performance was driven by strong growth across its segments and geographies, despite the challenges posed by the Covid-19 pandemic and the banking crisis in the US and Europe. The company added 115 new clients in the quarter, taking its total client base to 1,872. The company decreased its employee strength by 3611 to 3,43,234.

The revenue declined by 3.2% sequentially when measured in constant currency. Additionally, digital revenues made up 62.9% of the total revenues.. The company's operating margin stands at 21%, dipped by 0.5% from the last year. The company's attrition rate declined to 20.9%, reflecting its efforts to retain talent and enhance employee engagement.

The company's CEO and MD Salil Parekh said that the company had delivered a strong performance in Q4 and FY23, despite the unprecedented challenges of the pandemic. He said that the company had strengthened its client relationships, expanded its digital capabilities, and invested in its employees and communities. He also said that the company was confident of achieving its guidance of 4-7% revenue growth in constant currency terms for FY24 while margin at 20-22%

The company's CFO Nilanjan Roy said that the company's continued focus on cost optimization and operational efficiencies have helped in achieving operating margins of 21.0% in FY23. He also said that "In Q4, our free cash generation was strong, thanks to our robust collections. As part of our capital allocation policy, we successfully completed the share buyback and have proposed a final dividend of ₹17.50 for FY23".

#InfosysQ4FY23 results announced. Highlights to follow. pic.twitter.com/aaJThaXBlN

— Infosys (@Infosys) April 13, 2023