Infosys revenue up 15.4% in FY23
BENGALURU, INDIA — The revenue of next-generation digital services and consulting provider Infosys increased by 15.4% to $18.2 billion in FY2023.
The firm’s growth was broad-based across industry verticals and geographical regions, with 62.2% of its revenues coming from digital operations.
“Our strong performance in FY23 is a testimony to the continued focus on digital, cloud, and automation capabilities which resonated with our clients. We have launched exciting programs with our clients leveraging generative AI platforms,” said Infosys CEO and Managing Director Salil Parekh.
Parekh added that they see strong interest in “efficiency, cost, and consolidation opportunities” from their clients, resulting in a strong large deal pipeline.
Meanwhile, Infosys Chief Financial Office Nilanjan Roy said that the firm’s “continued focus on cost optimization and operational efficiencies have helped in achieving operating margins of 21.0% in FY23.”
“Free cash generation in Q4, led by robust collections, was strong. Executing on our capital allocation policy, we successfully completed the share buyback and have proposed a final dividend of `17.50 for FY23,” Roy stated.
Infosys’ Q4 year-on-year growth is at 8.8%, with a sequential decline of 3.2% in constant currency. The quarter’s operating margin was 21.0%, while free cash flow conversion was 95.7%.
