Saturday, Nov 27 2021 | Time 23:25 Hrs(IST)
Business Economy

Infosys delivers strong Q2 performance, up 19.4 per cent YoY

Bengaluru, Oct 13 (UNI) Infosys, a global leader in next-generation digital services and consulting, delivered a strong Q2 performance with YoY growth increasing to 19.4 per cent and sequential growth accelerating to 6.3 per cent in constant currency.
Growth was broad-based across geographies and segments with the largest geography, North America growing at 23.1 percent and the largest segment, Financial Services growing at 20.5 per cent, YoY in constant currency, the company said.
Large deal momentum continued with TCV of $2.15 billion in Q2 and operating margin for the quarter was resilient at 23.6 per cent, it said.
The Board also announced an interim dividend of Rs 15 per share for FY22.
Speaking to reporters at a first in-person press conference after two years due to Covid pandemic, Infosys CEO and MD Salil Parekh said, "Our stellar performance and robust growth outlook continue to demonstrate our strategic focus and the strength of our digital offerings.
"In order to harness the full potential of the market opportunity, the company is expanding its college graduates hiring programme to 45,000 for the year, he said.
Simultaneously, the company continues to strengthen employee value proposition including health and wellness measures, reskilling programmes, appropriate compensation interventions and enhanced career growth opportunities, Infosys Operating Officer Pravin Rao said.
"With over 86 per cent of Infoscions in India having received at least one dose of ‘vaccination’, we are now preparing to embrace the hybrid work model. We have equipped employees with the resources they need to be productive, cyber secure, stay connected, and maintain a work-life balance. Our talent strategy also factors in expanded hiring pools that include new communities and work locations," he added.
"Our operating margins for Q2 were resilient; the impact of enhanced employee value proposition initiatives was offset by strong operating parameters, cost optimization and operating leverage. We will continue to invest in our employees to remain a preferred employer-of-choice and seamlessly fulfill clientdemand," Infosys CFO Nilanjan Roy said.
"Cash generation remained robust. We have executed the capital allocation policy with the successful closure of share buyback and step up in interim dividend to Rs 15 per share," he added.
Given this continued momentum we have further increasedour revenue growth guidance to 16.5 per cent-17.5 per cent, he added.
On capital allocation, the company completed the open market share buyback on September 8 at an average price of Rs 1,649 per share, the company said.
Consequently, the share capital of the company has reduced by 1.31 per cent. With this, the company has returned 82 per cent of the free cash flow for FY20 and FY21 through dividends and buyback, it said.
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