Infosys

The company has guided for 16%-16.5% revenue growth in the fiscal ending March 31, compared to 15%-16% projected at the end of the September quarter, and 14-16% at the end of the June quarter. The attrition rate eased to 24.3% in the October-December period, as compared to 27.1% in the previous three months. The headcount increased by a net 1,627 to 3,46,845. "Our revenue growth was strong in the quarter, with both digital business and core services growing. This is a clear reflection of our deep client relevance, industry-leading digital capabilities and unrelenting dedication of our employees," Salil Parekh, chief executive at Infosys, said. "As reflected in the large deals momentum, we continue to gain market share as a trusted transformation and operational part for our clients. Infosys' digital services accounted for 62.9% of total revenue, clocking an annual constant-currency growth of 21.7%. While operational profitability of the Bengaluru-based IT firm remained stable over the previous three-month period, it declined 2% annually. "Operating margins in Q3 remained resilient due to cost optimisation benefits, which offset the impact of seasonal weakness," Nilanjan Roy, chief financial officer at Infosys, said in the statement. “Attrition reduced meaningfully during the quarter and is expected to decline further in the near-term." The company has retained its profitability margin at 21-22% for FY23. *Business Performance* According to Infosys' factsheet on its December quarter results, the BFSI segment accounted for the highest share of overall revenue. That was followed by retail, communications, manufacturing and hi-tech. Geographically speaking, North America brought in more than 60% of Infosys' revenue. Europe accounted for more than a quarter. As on Dec. 31, Infosys had 1,850 clients, including 134 new deals struck in the third quarter. The top 25 clients contribute more than 35% of the company's overall revenue. The company, at present, has nearly 1,000 million-dollar clients. The company had a free cash flow of Rs 4,741 crore, as on Dec. 31, compared to Rs 4,752 crore on Sept. 30.