Infosys Q2 Review: Stellar Performance Continues; Supply-Side Crunch To Impact Margins In Near Term: KRChoksey
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KRChoksey Research Report
Infosys Ltd.'s Q2 FY22 performance was slightly higher than with our estimate.
Dollar revenue was up 5.7% QoQ and in constant currency term grew by 19.4% YoY to $3,998 million (our estimate: $3,971 million).
Rupee revenue grew by 6.1% QoQ to Rs 2,96,020 million (our estimate: Rs 2,94,182 million).
Reported operating margin witnessed a meagre de-growth, down by 12 basis points to 23.6% QoQ backed by healthy deal wins which was partially offset by higher travel expenses, pull-up/re-badging of large deals and retention of skilled employees.
Infosys showed strength in its core business segments and has bagged 22 large deals (deal size more than $50 million bracket) spread across verticals.
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