reported a consolidated revenue of Rs 34,470 crore in Q1, which was higher than the analyst estimate of Rs 34,150 crore. On a YoY basis, the revenue jumped 23.6 per cent.
Just like its peers in the industry, attrition remains a headache for Infosys as the attrition rate jumped to 28.4 per cent in the June quarter from 27.7 per cent in the preceding March quarter.
“We are fueling the strong growth momentum with strategic investments in talent through hiring and competitive compensation revisions. While this will impact margins in the immediate term, it is expected to reduce attrition levels and position us well for future growth. optimize various cost levers to drive efficiency in operations,” said Infosys CFO Nilanjan Roy.
The Bengaluru-based IT major said YoY growth was in double digits across all business segments in constant currency terms. Digital accounted for 61.0 per cent of overall revenues, growing at 37.5 per cent in constant currency. Q1 deal wins stood at $1.7 billion vs $2.3 billion QoQ.
Roy said the company’s continued high focus on cash led to strong free cash flow generation to net profit conversion at 95.2 per cent and improvement in ROE to 31 per cent. The total free cash flow during the June quarter stood at Rs 5,106 crore.
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