IGI Logo

Below is the Infosys Q4 FY22 results- first cut by Mr. Piyush Pandey,  Lead Analyst- Institutional Equities,  YES SECURITIES.

*·Reported revenue of Rs 322.8 bn( up just 0.7%  QoQ in USD terms, up 1.3% QoQ in INR terms). Digital revenue was up 36.2%    YoY in USD terms, while core (legacy business) was down 0.3% YoY. Digital now contributes 59.2% of revenue compared to 58.5% in Q3FY22.  In terms of verticals, performance was notably muted in Life science vertical in QoQ terms.

*  EBIT margin was down 190 bps QoQ to 21.6% on muted revenue growth in the quarter.

* Large deal booking remained strong at $2.3bn for the quarter.

* Offshore effort mix was down 20 bps QoQ to 76%.

* Net addition of 21948 employees during the quarter to reach 3,14,015 employees. Excluding trainees, utilization was down 150 bps QoQ to 87%.

*  LTM attrition increased by 220 bps QoQ to 27.7%.

* Declared final dividend of Rs 16/ share.

* Guided for revenue growth of 13-15% for FY23 with EBIT  margin band of 21-23%.

* We currently have BUY Rating on the stock. Trades at 25x on FY24E EPS.

Above views are of the author and not of the website kindly read disclaimer