Thursday 25 / April / 2024
Bengaluru: Infosys, a global leader in next-generation digital services and consulting, delivered a strong second quarter (Q2) performance with year-on-year (YoY) growth increasing to 19.4% and sequential growth accelerating to 6.3% in constant currency.
Growth was broad-based across geographies and segments with the largest geography, North America growing at 23.1% and the largest segment, Financial Services growing at 20.5%, YoY in constant currency. Large deal momentum continued with TCV of $2.15 billion in Q2. Operating margin for the quarter was resilient at 23.6%. The Board has announced interim dividend of `15 per share for FY22.
"Our stellar performance and robust growth outlook continue to demonstrate our strategic focus and the strength of our digital offerings. As we witness a strong market opportunity with global enterprises rapidly accelerating their digital journeys, our sustained investments in expanding capabilities, including the differentiated cloud play, Infosys Cobalt™, has uniquely positioned us to continue serving our clients effectively, gain market share and emerge as the preferred cloud and digital transformation partner in the market," said Salil Parekh, CEO and MD. "Given this continued momentum we have further increased our revenue growth guidance to 16.5%-17.5%", he added.
"In order to harness the full potential of the market opportunity, we are expanding our college graduates hiring program to ~45,000 for the year. Simultaneously, we continue to strengthen employee value proposition including health and wellness measures, reskilling programs, appropriate compensation interventions and enhanced career growth opportunities", said Pravin Rao, Chief Operating Officer.
"With over 86% of Infoscions in India having received at least one dose of 'vaccination', we are now preparing to embrace the hybrid work model. We have equipped employees with the resources they need to be productive, cyber secure, stay connected, and maintain a work-life balance. Our talent strategy also factors in expanded hiring pools that include new communities and work locations", he added.
"Our operating margins for Q2 were resilient; the impact of enhanced employee value proposition initiatives was offset by strong operating parameters, cost optimization and operating leverage. We will continue to invest in our employees to remain a preferred employer-of-choice and seamlessly fulfill client demand", said Nilanjan Roy, Chief Financial Officer. "Cash generation remained robust. We have executed the capital allocation policy with the successful closure of share buyback and step up in interim dividend to `15 per share", he added.
