Bengaluru, NFAPost: Infosys reported a sequentially weak quarter in the period ending March 31, 2023 (Q4FY23). The IT giant’s Q4 PAT came in at Rs 6,128 crore down by nearly 16% QoQ.
While revenue also dipped by 2.2% QoQ to Rs 37,441 crore. In constant currency, the company’s revenue growth came in at 3.2% QoQ and 8.8% YoY.
The operating margin stood at 21% in Q4. The company also declared a final dividend of Rs 17.5 per share for FY23. Infosys’ rival TCS has also missed the street’s estimates in Q4.
Key highlights of Q4:
1. In rupee terms, revenue dropped 2.2% QoQ but was up by 16% YoY.
2. Revenues in CC terms grew by 8.8% YoY and declined by 3.2% QoQ.
3. Operating margin at 21.0%, decline of 0.6% YoY and 0.5% QoQ.
4. PAT stood at Rs 6,128 crore down by nearly 16% QoQ but up by nearly 6% YoY.
5. Basic EPS at Rs 14.79, growth of 9.0% YoY.
6. FCF at Rs 5,844 crore, growth of 1.3% YoY. FCF conversion at 95.3% of net profit.
7. Continuing the recent trend, attrition declined further in Q4 to 20.9%.
Infosys CEO and MD Salil Parekh said the company’s strong performance in FY23 is a testimony to the continued focus on digital, cloud and automation capabilities which resonated with our clients.
“We have launched exciting programs with our clients leveraging generative AI platforms. As the environment has changed, we see strong interest from our clients for efficiency, cost and consolidation opportunities, resulting in a strong large deal pipeline. We have expanded our internal program on efficiency and cost to build a path to higher margins in the medium term. We continue to invest in our people and in supporting our clients,” said Infosys CEO and MD Salil Parekh.
The company has declared a dividend of Rs 17.50 per share for the fiscal year FY23. It fixed June 2nd as the record date to determine eligible shareholders for the dividend benefits.
Infosys said, the dividend will be paid on July 3rd, 2023. On a sequential basis, the company’s revenue dipped by 2.2% to Rs 37,441 crore in Q4FY23. Infosys had posted a revenue of Rs 38,318 crore in Q3FY23.
However, revenue was up by 16% from Rs 32,276 crore in Q4 of the previous fiscal.
Infosys posted a consolidated net profit of Rs 6,128 crore in Q4FY23, down by 15.68% from a PAT of Rs 7,283 crore in the preceding quarter.
However, the latest PAT jumped by 5.89% from Rs 5,787 crore in Q4 of FY22. The profits are attributable to the owners of the company.
