Infosys Q4 Review - Miss On Revenues, In-Line Margin Performance: Prabhudas Lilladher
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Prabhudas Lilladher Report
Infosys Ltd.’s revenue of $3613 million, growth of 2.8% QoQ U.S. dollar (our estimate: 3.8%, consensus: 3.6%) was lower than our and cons estimates.
Sequential volume growth in Q4 FY21 was strong at 4.6%. However, revenue growth was subdued because:
- large part of the volume growth was led by offshore effort,
- lower contribution from third party deals and
- typical weak seasonality in Q4.
Digital revenues continued to grow at strong rate of 34.4% YoY constant currency. Manufacturing (up 6.1% QoQ U.S. dollar), retail (up 3.5% QoQ U.S. dollar) reported strong recovery and hi-tech continued to grow at strong rate of 8.4% QoQ U.S. dollar.
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