Infosys: Infosys numbers reflect demand traction amid short-term cost pressures

At Friday’s closing price of ₹1,506.3, the stock was traded at a trailing price-earnings multiple of 28.5.

Synopsis

The country’s second-largest IT exporter declared quarterly numbers on a Sunday, unusual when compared with its track record of reporting results on weekdays. The headline numbers were a mixed bag. The 5.5% sequential growth in the dollar denominated revenue keeping the currency rates constant (CC) was better than the 2-3.5% growth reported by top peers.

ET Intelligence Group: Infosys reported best in class topline growth for the June quarter exceeding analysts’ expectations. Though a lower than expected operating profitability and total contract value (TCV) of new deals may raise concerns, that looks temporary since the company has maintained the FY23 margin guidance at 21-23%. In addition, a strong deal pipeline, an unexpected upward revision in the full-year revenue guidance, and sustained

BY

ET Bureau

3 mins read, Last Updated:

Jul 25, 2022, 05:57 AM IST

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