Infosys: Resilient performance in a seasonally weak quarter; Large deal momentum continues with 71% net new deals
BENGALURU, India, Jan. 11, 2024 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, delivered $4,663 million in Q3 revenues with year-on-year and sequential decline of 1.0% in constant currency. Large deal TCV for the quarter was $3.2 billion, with 71% being net new. Operating margin for the quarter was 20.5%, a sequential decline of 70 bps. Attrition declined further to 12.9%. FY24 revenue guidance revised to 1.5%-2.0% and operating margin guidance at 20%-22%.
- "Cash generation remained robust with FCF to net profit conversion for Q3 at 90.6%," he added.
- Infosys entered into a collaboration with smart Europe GmbH for five years to bring sustainable electric mobility to customers.
- Dirk Adelmann, Chief Executive Officer, smart Europe GmbH, said, "We are pleased to have Infosys as our partner on this journey.
- Infosys announced a strategic long-term collaboration with TK Elevator (TKE) to help consolidate, harmonize, and modernize their digital landscape.