Infosys

Revenue guidance for FY22 revised upwards to 19.5%-20.0%, powered by sequential growth of 7.0% in Q3

Bengaluru, India (ots/PRNewswire) - Differentiated digital and cloud
capabilities drive broad-based growth; healthy operating margins at 23.5%

Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation
digital services and consulting, delivered strong Q3 performance with sequential
growth of 7.0% in a seasonally weak quarter and year-on-year growth of 21.5% in
constant currency. Growth remained broad-based and deal momentum robust, with
digital transformation rapidly scaling across verticals and regions. Large deal
wins accelerated with TCV of $2.53 billion in Q3. Operating margin for the
quarter was healthy at 23.5%, with Free Cash Flow conversion at 92.6%. Our
talent strategy continued to be a key focus area marked by efforts to further
strengthen employee skilling and well-being while nurturing our workforce to
fulfil client requirements.

"Our strong performance and market share gains are a testament to the enormous
confidence our clients have in us to help them in their digital transformation.
This stems from four years of sustained strategic focus on areas of relevance
for our clients in digital and cloud, continued re-skilling of our people, and
deep relationships of trust that our clients have with us. This is reflected in
an upgrade in our revenue guidance to 19.5%-20.0% for FY22. We expect the
healthy technology spend to continue with large enterprises progressing on their
digital transformations," said Salil Parekh, CEO and MD . "I am immensely proud
of the relentless commitment of our employees during these challenging times and
grateful for their extraordinary efforts in delivering success for our clients",
he added.

42.6% YoY 21.5% YoY 23.5% 13.1% YoY $2.53 bn
7.0% QoQ

CC Digital CC Revenue Operating margin Increase in EPS Large deal
growth growth signings
(INR terms)


1. Key highlights:

For the quarter ended December 31, 2021 For nine months ended December 31,
2021

- Revenues in CC terms grew by 21.5% - Revenues in CC terms grew by 19.3%
YoY and 7.0% QoQ YoY

- Reported revenues at $4,250 million, - Reported revenues at $12,031
growth of 20.9% YoY million, growth of 20.9% YoY

- Digital revenues at 58.5% of total - Digital revenues at 56.3% of total
revenues, YoY CC growth of 42.6% revenues, YoY CC growth of 42.1%

- Operating margin at 23.5%, decline of - Operating margin at 23.6%, decline
1.9% YoY and 0.1% QoQ of 1.0% YoY

- Basic EPS at $0.18, growth of 11.2% - Basic EPS at $0.52, growth of 16.1%
YoY YoY

- FCF at $719 million, YoY decline of - FCF at $2,294 million, YoY growth of
6.9%; FCF conversion at 92.6% of net 5.5%; FCF conversion at 103.6% of net