Infosys Limited, India’s second-largest IT services
company, on October 13, 2022, reported a consolidated net profit of Rs 6,021
for the quarter ended September 30, 2022, up 11.1% from Rs 5,421 crore reported
in the corresponding quarter of the previous year.

Revenue from operations stood at Rs 36,538 crore, reported
a 23.4% growth over Rs 29,602 crore in the year-ago period, the company said in
a stock exchange filing.

Sequentially, revenue surged 6% while net profits rose
12.3% over the previous quarter.

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Earnings were in-line with projections. The company also
said that it will be buying back shares worth Rs 9,300 crore to reward its
shareholders. The company has set the maximum buyback price at Rs 1,850, a
premium of 30% over the last closing price.

Revenues in constant currency terms increased by 18.8% year
on year and 4% quarter on quarter. Digital revenues for the quarter were at
61.8% of total revenues, growing 31.2% year on year in constant currency.

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The large deal contract value (TCV) for the quarter was
$2.7 billion – the highest in the last seven quarters. The company also raised
the revenue guidance for fiscal 2023 to 15-16% from 14-16% earlier. The
operating margin has also been revised upwards to 21-22%.

“Our strong large deal wins and steady all-round growth in
Q2 reflect the deep relevance and differentiation of our digital and cloud
solutions for clients as they navigate their business transformation”, said
Salil Parekh, CEO, and MD, Infosys.

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“While concerns around the economic outlook persist, our
demand pipeline is strong as clients remain confident in our ability to deliver
the value they seek, both on the growth and efficiency of their businesses,” he

The company’s operating margin came in at 21.5%,
registering a decline of 2.1% year on year and an increase of 1.4% quarter on

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“Operating margins in Q2 expanded sequentially by 150 bps,
helped by our operational rigour. While supply-side challenges are gradually
abating as reflected in the reducing attrition rates, they continue to exert
pressure on our cost structure,” said Nilanjan Roy, Chief Financial Officer,

Infosys’ Board of directors also declared an interim
dividend of Rs 16.50 per share, an increase of 10% over the financial year 2022
interim dividend. The total amount of the interim dividend will be around Rs
6,940 crore.

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Infosys added 10,032 employees during the second quarter of
the financial year 2023, the IT services major said while announcing results
for the quarter. This took Infosys’ headcount as of September 30, 2022, to

In the previous quarter, Infosys had a net employee
addition of 21,171 employees.