BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Infosys Ltd. reported a growth of 7% QoQ constant currency, ahead of our estimate of 4.8%, on the back of a broad based performance. Large deal total contract stood at $2.53 billion (net new at 44%). The management indicated traction in large deals, and highlighting that the deal pipeline was the highest in a very long time.
Ebit margin dipped only 10 basis points QoQ to 23.5%, in line with our estimate, despite a drag from employee additions, higher sub-contracting, and lower utilisation (down 70 bps QoQ) in Q3 FY22. A strong topline growth drove profit after tax growth of 7.2% QoQ to Rs 58 billion.
With an exceptional Q3 performance in topline, Infosys increased its FY22 U.S. dollar revenue growth guidance to 19.5-20% YoY constant currency (from 16.5-17.5%).
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