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View All NewsIndia – Infosys revenue up 20.6% in fiscal Q4, highest growth in decade
Global IT services giant Infosys (NYSE: INFY) announced yesterday revenue rose 20.6% year over year in constant currency in its fiscal fourth quarter ended March 31. Gross margin at the Bengaluru, India-based company rose 5.5%.
The company said the growth, the highest in a decade, was broad-based and supported by continued momentum in large-deal wins.
| (USD millions) | Q4 2022 | Q4 2021 | % change | % constant currency |
| Revenue | 4,280 | 3,613 | 18.5% | 20.6% |
| Gross profit | 1,325 | 1,256 | 5.5% | - |
| Gross margin percentage | 31.0% | 34.8% | - | - |
| Net profit | 753 | 697 | 8.0% | - |
“With the acceleration of digital disruptions across industries, we see immense potential to engage and partner with clients as they transform, adapt and thrive,” said Infosys CEO and Managing Director Salil Parekh.
Full-year results
| (USD millions) | FY 2022 | FY 2021 | % change | % constant currency |
| Revenue | 16,311 | 13,561 | 20.3% | 19.7% |
| Gross profit | 5,315 | 4,733 | 12.3% | - |
| Gross margin percentage | 32.6% | 34.9% | - | - |
| Net profit | 2,968 | 2,623 | 13.2% | - |
Infosys has been in the news over the past few weeks given the £686 million stake owned in the company by the daughter of company founder, Narrayana Murthy who happens to be married to the UK Chancellor of the Exchequer, Rishi Sunak. Akshata Murty, whose financial affairs have come under close scrutiny by the UK media, stands to gain a £6 million windfall as a result of the dividend announced by Infosys yesterday.
Guidance
Infosys expects revenue growth in its upcoming 2023 fiscal year of between 13% and 15% in constant currency. Operating margin is expected to increase by 21% to 23%.
Shares in Infosys closed yesterday at INR 1,748.55 (USD 22.98), up 0.35% on the day and 10.51% below its 52-week high of INR 1,953.90 (USD 25.67), set on 17 January 2022. The company has a market cap of INR 7.33 trillion (USD 96.32 billion).