{"id":138624,"date":"2023-01-13T02:46:55","date_gmt":"2023-01-13T07:46:55","guid":{"rendered":"https:\/\/44.250.171.167\/?p=138624"},"modified":"2023-01-13T02:46:57","modified_gmt":"2023-01-13T07:46:57","slug":"infosys-ltd-q3-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/infosys-ltd-q3-fy23-earnings-conference-call-insights\/","title":{"rendered":"Infosys Ltd Q3 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"Infosys Ltd Q3 FY23 Earnings Concall\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/j6PtlbO6k30?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><strong>Key highlights from Infosys Ltd (<a href=\"https:\/\/44.250.171.167\/symbol\/INFY\/\">INFY<\/a>) Q3 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Management Update:<\/strong><\/p>\n<ul>\n<li>[00:02:10] INFY had record-breaking 32 large deals in 3Q23 worth $3.3 billion, the highest deal value in eight quarters. The company added that this is the largest number of large deals in company\u2019s history, with 36% of this being net new.<\/li>\n<\/ul>\n<ul>\n<li>[00:04:36] Vol<span data-offset-key=\"43h3t-37-0\">untary<\/span><span data-offset-key=\"43h3t-38-0\"> quarterly<\/span><span data-offset-key=\"43h3t-39-0\"> annual<\/span><span data-offset-key=\"43h3t-40-0\">ized<\/span><span data-offset-key=\"43h3t-41-0\"> attrition<\/span><span data-offset-key=\"43h3t-42-0\"> decreased<\/span><span data-offset-key=\"43h3t-43-0\"> 6<\/span><span data-offset-key=\"43h3t-44-0\"> percentage points sequentially in 3Q23 and<\/span><span data-offset-key=\"43h3t-48-0\"> is<\/span><span data-offset-key=\"43h3t-49-0\"> now<\/span><span data-offset-key=\"43h3t-50-0\"> below<\/span><span data-offset-key=\"43h3t-51-0\"> 20<\/span><span data-offset-key=\"43h3t-52-0\">%; lowest attrition in past seven quarters. \u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li>[00:05:52] INFY said it\u2019s retaining its operating margin guidance for FY23 at 21-22% and anticipate it to be at the lower end of the range.<\/li>\n<\/ul>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:15:21] Bryan Bergin from Cowen asked if there is a material change in client\u2019s behaviour now vs. 2Q23. Salil Parekh CEO replied that INFY is seeing an impact from the economic environment on some clients in financial services, telecom, hi-tech, retail and some impact in banking. However, said that it still has strong outlooks for clients in energy, utilities, and manufacturing.<\/li>\n<\/ul>\n<ul>\n<li>[00:18:27] Apurva Prasad of HDFC Securities enquired about the visibility for the year ahead like pipeline or pipeline to TCV conversion. Salil Parekh CEO answered that INFY has a very strong large deal pipeline based on what\u2019s seen in the deal flow.<\/li>\n<\/ul>\n<ul>\n<li>[00:22:56] Mukul Garg with Motilal Oswal asked if INFY can break-out the amount of strong TCV wins in 3Q due to share gains versus resilient technology spend. Salil Parekh CEO said that the large deal momentum is based on the digital transformation and cost efficiency automation deals. It\u2019s a broad portfolio, so when clients feel the impact of the economic environment, INFY has the cost efficiency play to support them.<\/li>\n<\/ul>\n<ul>\n<li>[00:30:40] Moshe Katri from Wedbush Securities asked that considering the March guidance upgrade being unusual, if INFY can share any views on the budget cycle, and any potential delays or slippages and if budgets will be finalized on time. Salil Parekh CEO said on budget, INFY don&#8217;t see a broad base change. It&#8217;s somewhat different a bit by industry or sub industry.<\/li>\n<\/ul>\n<ul>\n<li>[00:35:33] Pankaj Kapoor with CLSA queried about the win and pipeline of smaller deals, less than INR50 million TCV, how it\u2019s been moving. Salil Parekh CEO answered that INFY doesn\u2019t typically disclose much about those deals. Overall INFY said it has a healthy pipeline.<\/li>\n<\/ul>\n<ul>\n<li>[00:36:09] Pankaj Kapoor with CLSA asked about the pricing behavior in the cost takeout deals. Salil Parekh CEO replied that the pricing in 3Q23 has been stable.<\/li>\n<\/ul>\n<ul>\n<li>[00:39:00] Ankur Rudra of J.P. Morgan asked if the company is worried that the US business is slower than Europe. Salil Parekh CEO answered that INFY had strong growth in the US at over 10% in 3Q23. In Europe, it\u2019s impacted on the economic side, but the traction on the pipeline is good.<\/li>\n<\/ul>\n<ul>\n<li>[00:40:36] Ankur Rudra of J.P. Morgan enquired about the trend of pricing and contract profitability in large big deals signed in 3Q23 vs. before. Nilanjan Roy CFO answered that there isn\u2019t anything unusual. Initial part of these new deals will be lower than portfolio margins, but nothing unusual.<\/li>\n<\/ul>\n<ul>\n<li>[00:48:04] Rahul Jain from Dolat Capital asked about the driver of manufacturing vertical doing well in Europe, up 60% YoY. Salil Parekh CEO answered that within the industry, INFY doesn\u2019t typically comment on a client, but the company has good traction within the European business in manufacturing.<\/li>\n<\/ul>\n<ul>\n<li>[00:48:56] Rahul Jain from Dolat Capital queried about digital revenue being slowest and if it\u2019s worrying. Salil Parekh CEO said it\u2019s due to the changes in industries and sub industries. There is more attention to the economic environment. There the digital transformation is slower and more focus on the cost and automation claims.<\/li>\n<\/ul>\n<ul>\n<li>[00:51:56] Girish Pai from Nirmal Bang Equities asked that from a competitive landscape, on the vendor consolidation deals, who are losing out. Salil Parekh CEO answered that INFY cannot comment on from where it\u2019s getting the benefit of consolidation specifically, but benefits are seen coming through with large clients.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Infosys Ltd (INFY) Q3 FY23 Earnings Concall Management Update: [00:02:10] INFY had record-breaking 32 large deals in 3Q23 worth $3.3 billion, the highest deal value in eight quarters. The company added that this is the largest number of large deals in company\u2019s history, with 36% of this being net new. [00:04:36] Voluntary [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"Infosys Ltd Q3 FY23 Earnings Conference Call Insights #INFY #Q3 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,8],"tags":[10169,5075,9124],"class_list":["post-138624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-technology-stocks","tag-earnings","tag-it-services","tag-software-technology-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":65860,"url":"https:\/\/alphastreet.com\/india\/key-highlights-from-infosys-infy-q1-2021-earnings-results\/","url_meta":{"origin":138624,"position":0},"title":"Key highlights from Infosys (INFY) Q1 2021 earnings results","author":"Staff Correspondent","date":"July 15, 2020","format":false,"excerpt":"Infosys (NYSE: INFY) reported earnings results for the first quarter of 2021 today. Revenues declined 0.3% to $3.12 billion. Net profit after minority interest was $558 million while diluted EPS was $0.13. The company expects revenue growth in the range of 0-2% in constant currency for fiscal year 2021 while\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Infosys reports Q1 2021 earnings results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":88645,"url":"https:\/\/alphastreet.com\/india\/infosys-infy-q3-earnings-key-numbers-and-performance\/","url_meta":{"origin":138624,"position":1},"title":"Infosys (INFY) Q3 Earnings: Key numbers and performance","author":"Shreya","date":"January 13, 2021","format":false,"excerpt":"Infosys Limited (NYSE: INFY) reported third-quarter 2021 earnings results Wednesday. Revenue increased to $3.5 billion from $3.2 billion last year. Analysts had expected revenue of $3.38 billion. The net profit rose to $705 million from $626 million, while earnings per share increased from $0.15 to $0.17, compared to analysts' estimate\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/01\/Infosys-Q3-2021-earnings-infograph.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/01\/Infosys-Q3-2021-earnings-infograph.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/01\/Infosys-Q3-2021-earnings-infograph.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/01\/Infosys-Q3-2021-earnings-infograph.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/01\/Infosys-Q3-2021-earnings-infograph.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":128349,"url":"https:\/\/alphastreet.com\/india\/infosys-ltd-infy-q3-fy22-earnings-concall\/","url_meta":{"origin":138624,"position":2},"title":"Infosys Ltd (INFY) Q3 FY22 Earnings Concall","author":"Sahil","date":"January 12, 2022","format":false,"excerpt":"Infosys Ltd (NSE:INFY) Q3 FY22 Earnings Concall dated Jan. 12, 2022","rel":"","context":"In &quot;Technology&quot;","block_context":{"text":"Technology","link":"https:\/\/alphastreet.com\/india\/category\/technology-stocks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/03\/Infosys-Ltd-Q3-2022-Earnings-call.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/03\/Infosys-Ltd-Q3-2022-Earnings-call.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/03\/Infosys-Ltd-Q3-2022-Earnings-call.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/03\/Infosys-Ltd-Q3-2022-Earnings-call.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/03\/Infosys-Ltd-Q3-2022-Earnings-call.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/03\/Infosys-Ltd-Q3-2022-Earnings-call.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":74713,"url":"https:\/\/alphastreet.com\/india\/infosys-infy-q2-earnings-key-financials-and-quarterly-highlights\/","url_meta":{"origin":138624,"position":3},"title":"Infosys (INFY) Q2 Earnings: Key financials and quarterly highlights","author":"Staff Correspondent","date":"October 14, 2020","format":false,"excerpt":"Infosys (NYSE: INFY) reported second quarter 2021 earnings results today. Revenues rose 3.2% year-over-year to $3.31 billion. Net profit amounted to $653 million, or $0.15 per share, compared to $569 million, or $0.13 per share, last year. The company expects revenues to grow 2-3% in constant currency for FY2021. The\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Infosys reports Q2 2021 earnings results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/10\/Infosys-Limited-Q2-2021-Earnings-Results.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/10\/Infosys-Limited-Q2-2021-Earnings-Results.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/10\/Infosys-Limited-Q2-2021-Earnings-Results.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/10\/Infosys-Limited-Q2-2021-Earnings-Results.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/10\/Infosys-Limited-Q2-2021-Earnings-Results.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":143699,"url":"https:\/\/alphastreet.com\/india\/infosys-ltd-q4-fy23-earnings-conference-call-insights\/","url_meta":{"origin":138624,"position":4},"title":"Infosys Ltd Q4 FY23 Earnings Conference Call Insights","author":"Praveen","date":"April 14, 2023","format":false,"excerpt":"https:\/\/youtu.be\/5Oeqz78pbxQ Key highlights from Infosys Ltd (INFY) Q4 FY23 Earnings Concall Management Update: [00:10:15] INFY said it doesn\u2019t expect any material impact on its operations due to the recent news in the regional banking segment. [00:13:46] INFY expects its revenue to grow in FY24 by 4-7% in constant currency terms.\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":124211,"url":"https:\/\/alphastreet.com\/india\/infosys-ltd-infy-q1-fy21-earnings-concall\/","url_meta":{"origin":138624,"position":5},"title":"Infosys Ltd (INFY) Q1 FY21 Earnings Concall","author":"Sahil_Anand","date":"July 14, 2021","format":false,"excerpt":"Infosys Ltd (NSE:INFY) Q1 FY21 Earnings Concall dated\u00a0Jul. 14, 2021","rel":"","context":"In &quot;Technology&quot;","block_context":{"text":"Technology","link":"https:\/\/alphastreet.com\/india\/category\/technology-stocks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Infosys-Limited-Q1-FY21-Earnings-Concall.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Infosys-Limited-Q1-FY21-Earnings-Concall.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Infosys-Limited-Q1-FY21-Earnings-Concall.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Infosys-Limited-Q1-FY21-Earnings-Concall.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Infosys-Limited-Q1-FY21-Earnings-Concall.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Infosys-Limited-Q1-FY21-Earnings-Concall.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/138624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=138624"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/138624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=138624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=138624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=138624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}