Infosys strong TCV, deal wins in Q3 lend comfort amid macro risks: Analysts

Infosys Q3 review: The company is likely to benefit from vendor consolidation opportunities, gain market share and see margin expansion going ahead, say analysts

IT giant Infosys put up a resilient performance in the seasonally weak December quarter of 2022-2023 (Q3 of FY23) delivering both revenue and profit beat. 

 

As against Business Standard’s average revenue estimate of Rs 37,838 crore and profit estimate of Rs 6,470 crore, the company posted revenue and profit of Rs 38,318 crore and Rs 6,586 crore, respectively, during the quarter.

 

The firm’s quarterly flat operating margins at 21.5 per cent, however, were below street expectations as lower subcontracting costs were offset by higher passthrough costs and overheads.

 

Among the key positives, the company raised the FY23 growth guidance to 16-16.5 per cent