Infosys records 19.4 pc year-on-year growth

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New Delhi [India], Oct 13 (ANI): Infosys has registered a strong performance in the second quarter of FY 2021-22 with a year-on-year growth of 19.4 per cent and a sequential growth of 6.3 per cent in constant currency.

According to an Infosys statement, the growth was geographic and broad-based across regions with the largest geography, North America growing at 23 per cent and the largest segment, financial services, at 20.5 per cent year-on-year in constant currency. Years were increasing. .

Big deal momentum continued with a total contract value (TCV) of USD 2.15 billion in the second quarter. Operating margin for the quarter remained flexible at 23.6 per cent. The Board has declared an interim dividend of Rs 15 per share for FY22.

“Our great performance and strong growth outlook continue to demonstrate our strategic focus and the strength of our digital offerings. As we see a strong market opportunity with global enterprises rapidly accelerating their digital journey, Our continued investments in expanding capabilities including differentiated cloud play enable us to continue to serve our customers effectively, gain market share and emerge as the preferred cloud and digital transformation partner in the market. Uniquely positioned,” said Salil Parekh, CEO and MD, Infosys.

“Considering this continued momentum, we have increased our revenue growth guidance from 16.5 per cent to 17.5 per cent,” he added.

“To harness the full potential of the market opportunities, we are expanding our college graduates recruitment program to ~45,000 for the year. Simultaneously, we are providing health and wellness measures, re-skilling programs, and fair compensation. Including interventions continue to strengthen the employee value proposition. Opportunities for career growth have increased,” said Praveen Rao, Chief Operating Officer.

He further added, “As more than 86 percent of infosciences in India have received at least one dose of ‘vaccination’, we are now gearing up to adopt the hybrid work model. We have equipped employees with the resources they need to be productive. Need to become cyber-safe, stay connected, and maintain work-life balance. Our talent strategy also factors in the expanding hiring pool that includes new communities and work locations,” he said.

Chief Financial Officer Nilanjan Roy said, “Our operating margins for Q2 were resilient; the impact of increased employee value proposition initiatives was offset by stronger operating parameters, cost optimization and operating leverage. Will continue to invest. Preferred employer choice and seamlessly meet customer demand.”

“Cash generation remained strong. We have implemented capital allocation policy with successful closure of share buybacks and Rs 15 per share in interim dividend,” he said. (ANI)

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