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

"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
42.6% YoY | 21.5% YoY | 23.5% | 13.1% YoY | |
CC Digital growth | CC Revenue growth | Operating margin | Increase in EPS | Large deal signings |
1. Key highlights:
For the quarter ended | For nine months ended |
- Revenues in CC terms grew by 21.5% YoY and 7.0% QoQ | - Revenues in CC terms grew by 19.3% YoY |
"Despite the cost escalations driven primarily by supply side challenges, we delivered another quarter of healthy margins, with improved cost optimization, continued operating leverage and a stable pricing environment," said
2. Client wins & Testimonials
- Infosys (INFY) accelerated Daimler's transition to sustainable mobility by transferring its High Performance Computing (HPC) workloads used to design vehicles and automated driving technologies to one of
Europe's greenest data centers, Lefdal Mine Datacenter, inNorway . Infosys (INFY) provided 'Green Data Center as a Service', part of Infosys Cobalt, to facilitate Daimler's journey to net zero.Jan Brecht , Chief Information Officer, Daimler and Mercedes-Benz, said, "A large proportion of our IT energy consumption comes from our data centers which require significant power for computing and cooling. That's why we're transforming our data centers with the support of our partner Infosys (INFY), bringing particularly the high-performance computing into one energy efficient solution at Lefdal Mine Datacenter. Not only will we benefit from natural cooling thanks to the cold weather, our operations will also be run on 100% green energy. This initiative marks another important milestone on our journey to becoming CO2 neutral." - Infosys (INFY) integrated its flagship human-centric digital commerce platform, Infosys Equinox, with Packable IQ (Packable's proprietary e-commerce platform) to help strengthen Packable's ability to offer its brand partners an engaging, innovative, and agile Direct to Consumer platform (D2C): "D2C-in-a-box."
Andrew Vagenas , Chief Executive Officer, Packable, said, "We're thrilled to partner with Infosys (INFY). This exciting partnership marks another milestone in the execution of Packable's strategy of augmenting our D2C platform ecosystem to accelerate brand partners' revenues and profitability across e-commerce channels. As we continue our journey to becoming a public company, we're diligently looking for partnerships to help bring the highest-quality services to customers, and this agreement with Infosys Equinox allows us to do just that." - Infosys (INFY) and bp agreed to develop and pilot an energy as a service (EaaS) solution, which will aim to help businesses improve the energy efficiency of infrastructure and help meet their decarbonization goals.
Sashi Mukundan , President, bpIndia and Senior Vice President, bp Group, said, "At bp, we set out to provide solutions to enable cities and hard to abate industries decarbonize. Integrating advances in energy, mobility and digital technologies and services has huge potential to accelerate the progress towards a more sustainable and resilient future. By bringing together our complementary capabilities, products, and services from bp's different joint ventures inIndia , bp and Infosys (INFY) can help each other – and our customers – achieve energy and sustainability goals faster." - Infosys (INFY) extended its strategic collaboration with Proximus,
Belgium's leading digital services and communications solutions provider, to digitally transform, develop, and maintain their IT applications with leading AI and automation solutions.Antonietta Mastroianni , Chief Digital & IT Officer, Proximus, said, "As we continue on this journey to elevate our digital initiatives, we were looking for a partner that could understand and provide strength to our digital vision. IT services companies play an imperative role during these times of transformation. Infosys (INFY) continues to be our strategic partner to drive efficiency in our IT landscape and support us in our digital transformation journey. Having shared a bond with Infosys (INFY) for over 24 years, its knowledge of the existing landscape and skilled resources will help ensure the success of our initiative. We are happy to extend this collaboration with Infosys (INFY) and are looking forward to a successful journey together." - Infosys (INFY) extended its digital innovation partnership with the Australian Open (AO) until the end of 2026.
Craig Tiley , CEO of Tennis Australia and Australian Open Tournament Director said, "We are excited to extend our partnership with Infosys (INFY) until 2026 as part of our ongoing journey of innovation. We look forward to working together to continue to change the way fans, players, coaches and audiences around the world engage with the Australian Open and our sport." - Infosys (INFY) and ATP recently launched a suite of exciting match stats and analysis tools designed to bring fans, coaches, and media closer to the action of men's professional tennis through digital innovation.
Daniele Sano , ATP Chief Business Officer, said: "As an organisation we are constantly looking for new ways to make the experience of our sport more compelling. Tennis is incredibly data-rich, and Infosys (INFY) has both technological expertise and passion for tennis to bring it to life in an intuitive way. We are excited for fans to interact with these new features and look forward to future digital innovation together with Infosys (INFY)." - Infosys (INFY) and Financial Times collaborated to enhance immersive journalism. Infosys (INFY) will leverage digital innovation to support the latest creative and engaging data-led storytelling experiences for FT's readers.
James Lamont , Director of Strategic Partnerships, Financial Times, said: "Our readers expect the best from the FT, and we are experimenting with exciting digital ways to bring stories and features to a wider audience. With Infosys' (INFY) help, we can use technology better and faster to deliver editorial features in more enterprising and eye-catching ways. The expertise Infosys (INFY) provides to these newsroom projects will help foster a spirit of innovation and reader service that supports our mission to delight and inform the FT's audience." - Infosys (INFY) recently became the official digital innovation partner of
Madison Square Garden (MSG) Sports and MSG Entertainment "Madison Square Garden welcomes millions of people each year and one of our most important priorities is finding new ways to deliver a world-class experience to each and every one of them, down to the smallest detail – this Infosys (INFY) partnerships helps us do just that," saidAndrew Lustgarten , president and CEO of MSG Sports and president of MSG Entertainment. "Infosys (INFY) shares our vision for using data and analytics to improve the guest experience, and we couldn't be more excited that they are joining us in such a significant and integrated partnership."
3. Recognitions
- Infosys (INFY) won Platinum Award at The Asset ESG Corporate Awards 2021, and won awards for Best Initiative in Diversity and Inclusion and for the Best Investor Relations Team
- Infosys (INFY) recognized as a Top Employer in the 2021 India Workplace Equality Index (IWEI), won Silver for LGBT+ Inclusion
- Infosys (INFY) recognized among Top 50 India's Best Workplace for Women 2021 by Great Place To Work in the large companies' category
- Infosys (INFY) recognized as Exemplars of Inclusion in Working Mother & AVTAR Most Inclusive Companies Index 2021
- Infosys (INFY) recognized among Top 10 Working Mother and AVTAR Best Company for Women in
India in 2021 - Accredited as a Disability Confident Recruiter by the Australian Network on Disability (AND) for 2020-21
- Positioned as a leader in Everest – Insurance Platform IT Services PEAK Matrix®2022
- Positioned as a leader in Everest Group's Platform IT Services in BFS PEAK Matrix® Assessment 2022
- Positioned as a leader in Everest Group's Finastra IT Services PEAK Matrix® Assessment 2022
- Positioned as a leader in Everest Enterprise Blockchain Services PEAK Matrix® Assessment 2022
- Positioned as a leader in Everest Enterprise Quality Assurance (QA) Services PEAK Matrix® Assessment 2022
- Ranked as a leader in IDC MarketScape – Worldwide Managed Multicloud Services 2021 Vendor Assessment
- Ranked as a leader in IDC MarketScape – Asia/Pacific Microsoft Dynamics 365 Implementation Services 2021
- Ranked as a leader in IDC MarketScape – Worldwide Oil and Gas Upstream Asset Management Digital Services 2021
- Rated as a leader in HFS OneOffice™ Services Top 10: Data and Decision
- Rated as a leader in HFS OneOffice™ Services Top 10: Native Automation
- Rated as a leader in HFS Energy Services Top 10, 2021
- Rated as a leader in HFS Top 10 – Enterprise Blockchain Services, 2021
- Rated as a leader in HFS Top 10 – Pega Services 2021
- Positioned as a leader in NelsonHall – Digital Manufacturing NEAT
- Positioned as a leader in NelsonHall – Advanced Digital Workplace Services 2021
- Infosys (INFY) positioned as a Leader in "Next-Gen Application Development and Maintenance Services 2021" ISG Provider Lens Study in U.S.
- Infosys (INFY) positioned as a Leader in 'Public Cloud – Services and Solutions 2021/ Analytics Services 2021 ISG Provider Lens Study 2021' in ISG Provider Lens™ for U.S, U.K.,
Brazil andGermany Region . - Infosys (INFY) rated as a Leader in Avasant Intelligent IT Ops RadarView™
- Infosys (INFY) rated as a Leader in Avasant's Blockchain Services 2021-2022 RadarView report
- Infosys (INFY) was the overall winner for delivery excellence for one of the largest external CSAT surveys sponsored by ISG - Star of Excellence Awards
About Infosys
Infosys is a global leader in next-generation digital services and consulting. We enable clients in more than 50 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
Visit www.infosys.com to see how Infosys (INFY) can help your enterprise navigate your next.
Safe Harbor
"Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in
Infosys Limited (INFY) and subsidiaries | ||
Extracted from the Condensed Consolidated Balance Sheet under IFRS as at: (Dollars in millions) | ||
ASSETS | ||
Current assets | ||
Cash and cash equivalents | 2,145 | 3,380 |
Current investments | 558 | 320 |
Trade receivables | 3,036 | 2,639 |
Unbilled revenue | 1,325 | 1,030 |
Other Current assets | 1,089 | 938 |
Total current assets | 8,153 | 8,307 |
Non-current assets | ||
Property, plant and equipment and Right-of-use assets | 2,433 | 2,519 |
Goodwill and other Intangible assets | 1,062 | 1,115 |
Non-current investments | 1,623 | 1,623 |
Unbilled revenue | 126 | 81 |
Other non-current assets | 1,276 | 1,180 |
Total non-current assets | 6,520 | 6,518 |
Total assets | 14,673 | 14,825 |
LIABILITIES AND EQUITY | ||
Current liabilities | ||
Trade payables | 506 | 362 |
Unearned revenue | 833 | 554 |
Employee benefit obligations | 298 | 276 |
Other current liabilities and provisions | 2,555 | 2,072 |
Total current liabilities | 4,192 | 3,264 |
Non-current liabilities | ||
Lease liabilities | 603 | 627 |
Other non-current liabilities | 491 | 432 |
Total non-current liabilities | 1,094 | 1,059 |
Total liabilities | 5,286 | 4,323 |
Total equity attributable to equity holders of the company | 9,335 | 10,442 |
Non-controlling interests | 52 | 60 |
Total equity | 9,387 | 10,502 |
Total liabilities and equity | 14,673 | 14,825 |
Extracted from the Condensed Consolidated statement of Comprehensive Income under IFRS for: | ||||
(Dollars in millions except per equity share data) | ||||
3 months ended | 3 months ended | 9 months ended | 9 months ended | |
Revenues | 4,250 | 3,516 | 12,031 | 9,948 |
Cost of sales | 2,856 | 2,275 | 8,041 | 6,471 |
Gross profit | 1,394 | 1,241 | 3,990 | 3,477 |
Operating expenses: | ||||
Selling and marketing expenses | 177 | 156 | 513 | 459 |
Administrative expenses | 219 | 192 | 642 | 577 |
Total operating expenses | 396 | 348 | 1,155 | 1,036 |
Operating profit | 998 | 893 | 2,835 | 2,441 |
Other income, net (3) | 61 | 77 | 203 | 203 |
Profit before income taxes | 1,059 | 970 | 3,038 | 2,644 |
Income tax expense | 283 | 263 | 823 | 718 |
Net profit (before minority interest) | 776 | 707 | 2,215 | 1,926 |
Net profit (after minority interest) | 774 | 705 | 2,211 | 1,916 |
Basic EPS ($) | 0.18 | 0.17 | 0.52 | 0.45 |
Diluted EPS ($) | 0.18 | 0.17 | 0.52 | 0.45 |
NOTES:
1. The above information is extracted from the audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the quarter and nine months ended
2. A Fact Sheet providing the operating metrics of the Company can be downloaded from www.infosys.com.
3. Other Income is net of Finance Cost.
IFRS-INR Press Release : https://www.infosys.com/investors/reports-filings/quarterly-results/2021-2022/q3/documents/ifrs-inr-press-release.pdf
Fact sheet: https://www.infosys.com/investors/reports-filings/quarterly-results/2021-2022/q3/documents/fact-sheet.pdf
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SOURCE Infosys (INFY)