Infosys (INFY) — concall transcript

📢 Key Event
Infosys reports Q3 revenue decline, tightens FY24 growth guidance, and announces CFO succession.

🔄 What Changed
FY24 revenue growth guidance narrowed to 1.5%-2% from 1.5%-2.5%; large deal wins hit $3.2bn (71% net new); CFO Nilanjan Roy to leave after 5 years.

🔮 What's Next
FY24 revenue growth guidance: 1.5%-2% in constant currency; operating margin guidance unchanged at 20%-22%; CFO transition to Jayesh by year-end.

💡 Investor Takeaway
Growth guidance tightened while margin outlook holds, but CFO departure adds leadership uncertainty amid soft demand.

Infosys reported a 1% YoY revenue decline in constant currency for Q3 FY24, with FY24 growth guidance tightened to 1.5%-2% and margin guidance unchanged at 20%-22%. Large deal wins reached $3.2bn (71% net new), including a mega deal, while 100,000 employees are trained on Generative AI. CFO Nilanjan Roy will depart after 5 years; Jayesh will succeed him. Regional trends show Europe growth offsetting North America weakness, with manufacturing and energy showing strength. Headcount fell 6,000+ YoY to 3.9bn cash reserves, and utilization remains below target at 82.7%.

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About Infosys Ltd (INFY)

Information Technology · IT - Software · Listed on BSE

Market Cap: ₹4,62,239.38 Cr P/E: 15.4 ROE: 32.7% ROCE: 44.9% Div Yield: 4.21%

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🔥 Also filed on 31 December 2023

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