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Infosys: Accelerated Double Digit Growth of 12.4%; Highest Ever Large Deal TCV at $ 2.7 Bn

12 luglio 2019 | 14.37
LETTURA: 11 minuti

BENGALURU, India, July 12, 2019 /PRNewswire/ -- "We had a strong start to FY 20 with constant currency growth accelerating to 12.4% on year over year basis and digital revenue growth of 41.9%. This was achieved through our consistent client focus and investments which have strengthened our client relationships," said Salil Parekh, CEO and MD. "Consequently, we are raising our revenue guidance for the year from 7.5%-9.5% to 8.5%-10%."

 

41.9% YoY

12.4% YoY

2.8% QoQ

20.50%

$2.7 bn

Digital CC growth

CC growth

CC growth

Operating margin

Large deal signings

1. Financial Highlights - Consolidated results under International Financial Reporting Standards (IFRS)

Revenues were $3,131 million, growth of 10.6% YoY and 2.3% QoQ

Operating profit was $642 million, decline of 4.2% YoY and 2.3% QoQ. Operating margin was 20.5%.

"We had a good quarter as we continue to leverage our digital navigation framework to help our clients build and nurture their live enterprise," said Pravin Rao, COO. "Large deal TCV was highest ever at $2.7 bn. Segment growth was robust with all large regions and most verticals growing at double digits yoy in constant currency."

"Our first quarter results and continued focus on operational efficiencies gives us the confidence on our revenue and margin guidance for the year," said Nilanjan Roy, CFO. "Continuing our objective of improving shareholder returns, we have revised our capital allocation policy upwards to distribute ~ 85% of free cash flows cumulatively over a 5-year period."

2.  Capital Allocation

3.  Client wins & Testimonials

Recognitions

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients to navigate their digital transformation, leveraging our teams from over 45 countries. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor     

Certain statements mentioned in this presentation concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2019. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

Infosys Limited and subsidiaries

Audited Condensed Consolidated Balance Sheet as at

(Dollars in millions except equity share data)

June 30, 2019

March 31, 2019

ASSETS 

Current assets

Cash and cash equivalents

2,266

2,829

Current investments

778

958

Trade receivables

2,290

2,144

Unbilled revenue

964

777

Prepayments and other current assets

851

827

Income tax assets

38

61

Derivative financial instruments

26

48

Total current assets

7,213

7,644

Non-current assets

Property, plant and equipment

1,903

1,931

Right-of-use assets(B3)

540

-

Goodwill

589

512

Intangible assets

207

100

Non-current investments

548

670

Deferred income tax assets

204

199

Income tax assets

917

914

Other non-current assets

296

282

Total non-current assets

5,204

4,608

Total assets

12,417

12,252

LIABILITIES AND EQUITY 

Current liabilities 

Trade payables

317

239

Lease liabilities(B3)

72

-

Derivative financial instruments

3

2

Current income tax liabilities

305

227

Client deposits

4

4

Unearned revenue

408

406

Employee benefit obligations

248

234

Provisions

84

83

Other current liabilities

2,022

1,498

Total current liabilities

3,463

2,693

Non-current liabilities

Lease liabilities(B3)

483

-

Deferred income tax liabilities

112

98

Employee benefit obligations

7

6

Other non-current liabilities

115

55

Total liabilities

4,180

2,852

Equity 

Share capital- INR 5 ($0.16) par value 4,800,000,000 (4,800,000,000) equity shares authorized, issued and outstanding 4,271,404,014 (4,335,954,462) equity shares fully paid up, net of 20,094,430 (20,324,982) treasury shares as at June 30, 2019 (March 31, 2019)

334

339

Share premium

286

277

Retained earnings

9,969

11,248

Cash flow hedge reserve

-

3

Other reserves

432

384

Capital redemption reserve

15

10

Other components of equity

(2,854)

(2,870)

Total equity attributable to equity holders of the company

8,182

9,391

Non-controlling interests

55

9

Total equity

8,237

9,400

Total liabilities and equity 

12,417

12,252

 

Infosys Limited and subsidiaries

Audited Condensed Consolidated Statement of Comprehensive Income for the

(Dollars in millions except equity share and per equity share data)

Three months ended June 30, 2019

Three months ended June 30, 2018

Revenues

3,131

2,831

Cost of sales

2,122

1,819

Gross profit

1,009

1,012

Operating expenses

   Selling and marketing expenses

169

149

   Administrative expenses

198

193

Total operating expenses

367

342

Operating profit

642

670

Other income, net

106

107

Finance cost(B3)

(6)

-

Reduction in the fair value of Disposal Group held for sale(A1)

-

(39)

Profit before income taxes

742

738

Income tax expense

196

204

Net profit

546

534

Other comprehensive income

Items that will not be reclassified subsequently to profit or loss:

Re-measurements of the net defined benefit liability/asset, net

(3)

-

(3)

-

Items that will be reclassified subsequently to profit or loss:

Fair valuation of investments, net

2

(7)

Fair value changes on derivatives designated as cash flow hedge, net

(3)

1

Foreign currency translation

17

(468)

16

(474)

Total other comprehensive income/(loss), net of tax

13

(474)

Total comprehensive income

559

60

Profit attributable to:

Owners of the Company 

546

534

Non-controlling interests

-

-

546

534

Total comprehensive income attributable to:

Owners of the Company 

559

60

Non-controlling interests

-

-

559

60

Earnings per equity share(A2)

Basic ($)

0.13

0.12

Diluted ($)

0.13

0.12

Weighted average equity shares used in computing earnings per equity share( A2)

Basic

4,302,176,860

4,346,657,242

Diluted

4,308,286,160

4,350,710,356

 

NOTES:

A.  Notes pertaining to previous quarters / periods

B.  Notes pertaining to the current quarter

www.infosys.com

IFRS-INR Press Release: https://www.infosys.com/investors/reports-filings/quarterly-results/2019-2020/q1/Documents/IFRS-INR-press-release.pdf 

Fact Sheet: https://www.infosys.com/investors/reports-filings/quarterly-results/2019-2020/q1/Documents/fact-sheet.pdf

Logo: https://mma.prnewswire.com/media/633365/Infosys_Logo.jpg

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