IT Consulting & Software company Infosys announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Reported revenues were Rs 37,923 crore, reflecting a growth of 1.3% YoY, declined 2% QoQ.
- Revenues remained flat YoY in constant currency (CC) terms.
- Operating margin was 20.1%, marking a decline of 0.9% YoY and 0.4% QoQ.
- Basic earnings per share (EPS) stood at Rs 19.25, showing an increase of 30.2% YoY.
- FCF amounted to Rs 7,032 crore, demonstrating a growth of 20.3% YoY.
- FCF conversion was at 88.2% of net profit.
FY24 Financial Highlights:
- Reported revenues reached Rs 1,53,670 crore, indicating a growth of 4.7% YoY.
- Revenues grew by 1.4% YoY in constant currency (CC) terms.
- Operating margin for the year was 20.7%, down by 0.4% YoY.
- Basic EPS for the year was Rs 63.39, showing an increase of 10.0% YoY.
- FCF amounted to Rs 23,865 crore, demonstrating a growth of 16.7% YoY.
- FCF conversion was at 90.9% of net profit.
“We delivered the highest ever large deal value in the financial year 2024. This reflects the strong trust clients have in us. Our capabilities in Generative AI continue to expand. We are working on client programs, leveraging large language models with impact across software engineering, process optimization, and customer support," said Salil Parekh, CEO and MD.
“I would like to thank our 3,17,000 employees across the world that are working to create value for our clients.” he added.
“Free cash flow of $848 million in Q4 was highest in the last 11 quarters driven by our relentless focus to improve working capital cycle. Consistent with the objective of giving high and predictable returns to shareholders, the Board has approved the capital allocation policy under which the company expects to return 85% over the next 5 years and progressively increase annual Dividend Per Share”, said Jayesh Sanghrajka, CFO.
“Operating margin expansion in the medium-term and improving cash generation continue to remain our priorities underpinned by early success in Project Maximus”, he added.