Infosys Q4FY23 PAT up 7.77% as operating margins stabilize around 21%

Infosys reported 16% growth in total sales revenues for the March 2023 quarter on consolidated basis at Rs37,441cr. Revenue growth was 8.8% in constant currency (CC) terms for Q4FY23 while the FY23 CC growth in revenues stood at 15.4%. The digital business saw growth of 15% in the quarter in CC terms. For the latest quarter, digital revenues accounted for 62.9% of the total revenues. 

In terms of revenue mix, BFSI continues to dominate at 29%, followed by Retail at 14.8%, Manufacturing at 13.5% and Energy at 12.9%. Manufacturing, Energy and Lifesciences showed the best revenue growth while BFSI and communications showed contraction. In terms of geographies, Q4FY23 saw revenue growth in North American and Europe but contraction in India. Attrition is down at 20.9% while large deal total contract value (TCV) stood at $2.1 billion in Q4 and $9.8 billion in FY23.

Financial highlights for Mar-23 compared yoy and sequentially

 Infosys Ltd    

Rs in Crore






Total Income (Rs cr)

₹ 37,441

₹ 32,276


₹ 38,318


Operating Profit (Rs cr)

₹ 7,877

₹ 6,956


₹ 8,242


Net Profit (Rs cr)

₹ 6,128

₹ 5,686


₹ 6,586








Diluted EPS (Rs)

₹ 14.77

₹ 13.54


₹ 15.70








Net Margins







Consolidated Profit after tax (PAT) for March 2023 quarter was up 7.77% at Rs6,128cr on the back of steady operating performance. Operating margins have been steady in the range of 21% to 21.5%. PAT margins at 16.37% in Mar-23 quarter compared with 17.62% in the Mar-22 quarter and 17.19% in Dec-22 quarter. For Q4YFY23, Infosys reported free cash flows of Rs5,844 crore. The final dividend payout was Rs17.50 per share.

During the quarter, Infosys added 40 clients in the $100 million plus range and 75 clients in the $50 million plus range. Infosys has provided guidance of revenue growth in the range of 4% to 7% for the full fiscal FY24 while the guidance for operating margins is in the range of 20% to 22%.

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