Infosys for the quarter ended Dec 2021 registered a consolidated sales of Rs 31867 crore, a growth of 7%QoQ and 21.5% yoy basis. On USD terms the revenue for the quarter was up by 6.3%QoQ basis and 20.9% YoY basis. Eventually the net profit (after MI) was Rs 5801 crore, a growth of 7%QoQ basis and +12% YoY basis.
Consolidated quarterly performance QoQ comparison
Net sales (including other operating income) of Infosys has increased 7.65% to Rs 31867 crore.
Operating profit margin has declined from 26.45% to 26.31%, leading to 7.05% rise in operating profit to Rs 8,383.00 crore. Employee cost decreased from 53.18% to 51.32%. Other expenses rose from 20.36% to 22.37%. Selling and administration expenses rose from 2.56% to 2.79%. Software technology development services cost rose from 15.02% to 16.86%.
Other income fell 2.29% to Rs 512 crore. PBIDT rose 6.46% to Rs 8842 crore. Provision for interest rose 10.42% to Rs 53 crore. Loan funds rose to Rs 5,312.00 crore as of 31 December 2021 from Rs 5,146.00 crore as of 30 September 2021. Sundry debtors were higher at Rs 22,569.00 crore as of 31 December 2021 compared to Rs 20,121.00 crore as of 30 September 2021. Cash and bank balance declined from Rs 18,056.00 crore as of 30 September 2021 to Rs 15,943.00 crore as of 31 December 2021. Investments rose to Rs 16,213.00 crore as of 31 December 2021 from Rs 15,079.00 crore as of 30 September 2021 .
PBDT rose 6.44% to Rs 8842 crore. Provision for depreciation rose 4.66% to Rs 899 crore. Fixed assets increased to Rs 19,734.00 crore as of 31 December 2021 from Rs 17,895.00 crore as of 30 September 2021. Intangible assets declined from Rs 8,017.00 crore to Rs 6,119.00 crore.
Profit before tax grew 6.65% to Rs 7,943.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 2121 crore, compared to Rs 2020 crore. Effective tax rate was 26.70% compared to 27.12%.
Minority interest increased 85.71% to Rs 13.00 crore. Net profit attributable to owners of the company increased 7.16% to Rs 5,809.00 crore.
Consolidated Quarterly Result YoY comparison
Net sales (including other operating income) of Infosys has increased 22.91% to Rs 31867 crore.
Operating profit margin has declined from 28.60% to 26.31%, leading to 13.05% rise in operating profit to Rs 8,383.00 crore. Employee cost decreased from 54.37% to 51.32%. Other expenses rose from 17.03% to 22.37%. Selling and administration expenses rose from 2.35% to 2.79%. Software technology development services cost rose from 11.53% to 16.86%.
Other income fell 16.20% to Rs 512 crore. PBIDT rose 10.83% to Rs 8895 crore. Provision for interest rose 8.16% to Rs 53 crore. Loan funds rose to Rs 5,312.00 crore as of 31 December 2021 from Rs 5,061.00 crore as of 31 December 2020. Sundry debtors were higher at Rs 22,569.00 crore as of 31 December 2021 compared to Rs 19,213.00 crore as of 31 December 2020. Cash and bank balance declined from Rs 22,079.00 crore as of 31 December 2020 to Rs 15,943.00 crore as of 31 December 2021. Investments rose to Rs 16,213.00 crore as of 31 December 2021 from Rs 11,313.00 crore as of 31 December 2020 .
PBDT rose 10.84% to Rs 8842 crore. Provision for depreciation rose 8.84% to Rs 899 crore. Fixed assets declined from Rs 20,242.00 crore as of 31 December 2020 to Rs 19,734.00 crore as of 31 December 2021. Intangible assets declined from Rs 6,198.00 crore to Rs 6,119.00 crore.
Profit before tax grew 11.08% to Rs 7,943.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 2121 crore, compared to Rs 1936 crore. Effective tax rate was 26.70% compared to 27.07%.
Minority interest decreased 27.78% to Rs 13.00 crore. Net profit attributable to owners of the company increased 11.78% to Rs 5,809.00 crore.
Equity capital decreased from Rs 2,123.00 crore as of 31 December 2020 to Rs 2,097.00 crore as of 31 December 2021 . Per share face Value remained same at Rs 5.00.
Promoters stake was 13.12% as of 31 December 2021 ,compared to 12.95% as of 31 December 2020 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Infosys has increased 20.50% to Rs 89365 crore.
Operating profit margin has declined from 27.80% to 26.46%, leading to 14.69% rise in operating profit to Rs 23,646.00 crore. Employee cost decreased from 55.42% to 52.96%. Other expenses rose from 16.78% to 20.58%. Selling and administration expenses rose from 2.36% to 2.60%. Software technology development services cost rose from 11.12% to 15.18%.
Other income rose 0.06% to Rs 1658 crore. PBIDT rose 13.60% to Rs 25304 crore. Provision for interest rose 3.45% to Rs 150 crore. Loan funds rose to Rs 5,312.00 crore as of 31 December 2021 from Rs 5,061.00 crore as of 31 December 2020. Sundry debtors were higher at Rs 22,569.00 crore as of 31 December 2021 compared to Rs 19,213.00 crore as of 31 December 2020. Cash and bank balance declined from Rs 22,079.00 crore as of 31 December 2020 to Rs 15,943.00 crore as of 31 December 2021. Investments rose to Rs 16,213.00 crore as of 31 December 2021 from Rs 11,313.00 crore as of 31 December 2020 .
PBDT rose 13.66% to Rs 25154 crore. Provision for depreciation rose 6.20% to Rs 2587 crore. Fixed assets declined from Rs 20,242.00 crore as of 31 December 2020 to Rs 19,734.00 crore as of 31 December 2021. Intangible assets declined from Rs 6,198.00 crore to Rs 6,119.00 crore.
Profit before tax grew 14.59% to Rs 22,567.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 6116 crore, compared to Rs 5349 crore. Effective tax rate was 27.10% compared to 27.16%.
Minority interest decreased 62.86% to Rs 26.00 crore. Net profit attributable to owners of the company increased 15.06% to Rs 16,425.00 crore.
Equity capital decreased from Rs 2,123.00 crore as of 31 December 2020 to Rs 2,097.00 crore as of 31 December 2021 . Per share face Value remained same at Rs 5.00.
Promoters stake was 13.12% as of 31 December 2021 ,compared to 12.95% as of 31 December 2020 .
Guidance for FY22
Revenue growth guidance revised from 16.5%-17.5% to 19.5%- 20.0% for the financial year in constant currency.
Operating margin guidance of 22%-24%
Other developments
Large deal wins accelerated with TCV of US$ 2.53 billion in Q3FY2022.
Management Comment:
Commenting on the performance Mr Salil Parekh, CEO and MD said Our strong performance and market share gains are a testament to the enormous confidence our clients have in us to help them in their digital transformation. This stems from four years of sustained strategic focus on areas of relevance for our clients in digital and cloud, continued re-skilling of our people, and deep relationships of trust that our clients have with us. this is reflected in an upgrade in our revenue guidance to 19.5-20% for FY22. We expect the healthy technology spend to continue with large enterprises progressing on their digital Transformations. I am immensely proud of the relentless commitment of our employees during these challenging times and grateful for their extraordinary efforts in delivering success for our clients, he added.
Nilanjan Roy, Chief Financial Officer said Despite the cost escalations driven primarily by supply side challenges, we delivered another quarter of healthy margins, with improved cost optimization, continued operating leverage and a stable pricing environment. We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program of over 55,000 for FY22 to support our growth ambitions he added.
Infosys: Consolidated Financial Results
| 2112 (3) | 2109 (3) | Var. (%) | 2012 (3) | Var. (%) | 2112 (9) | 2012 (9) | Var. (%) | 2103 (12) | 2003 (12) | Var. (%) | |
| Sales | 31867 | 29602 | 8 | 25927 | 23 | 89365 | 74161 | 21 | 100472 | 90791 | 11 |
| OPM (%) | 26.31 | 26.45 | 28.6 | 26.5 | 27.8 | 27.8 | 24.5 | ||||
| OP | 8383 | 7831 | 7 | 7415 | 13 | 23645 | 20618 | 15 | 27889 | 22267 | 25 |
| Other inc. | 512 | 524 | -2 | 611 | -16 | 1658 | 1657 | 0 | 2201 | 2803 | -21 |
| PBIDT | 8895 | 8355 | 6 | 8026 | 11 | 25303 | 22275 | 14 | 30090 | 25070 | 20 |
| Interest | 53 | 48 | 10 | 49 | 8 | 150 | 145 | 3 | 195 | 170 | 15 |
| PBDT | 8842 | 8307 | 6 | 7977 | 11 | 25153 | 22130 | 14 | 29895 | 24900 | 20 |
| Dep. | 899 | 859 | 5 | 826 | 9 | 2586 | 2436 | 6 | 3267 | 2893 | 13 |
| PBT | 7943 | 7448 | 7 | 7151 | 11 | 22567 | 19694 | 15 | 26628 | 22007 | 21 |
| Tax | 2121 | 2020 | 5 | 1936 | 10 | 6116 | 5349 | 14 | 7205 | 5368 | 34 |
| PAT | 5822 | 5428 | 7 | 5215 | 12 | 16451 | 14345 | 15 | 19423 | 16639 | 17 |
| MI | 13 | 7 | 86 | 18 | -28 | 26 | 70 | -63 | 72 | 45 | 60 |
| Net Profit | 5809 | 5421 | 7 | 5197 | 12 | 16425 | 14275 | 15 | 19351 | 16594 | 17 |
| EPS (Rs)* | 55.3 | 51.6 | 49.4 | 52.1 | 45.3 | 45.6 | 39.1 | ||||
| * On current Paid up equity capital of Rs 2102 crore, Face value Re 5, Figures in crore Source: Capitaline Databases EO: Extraordinary items EPS is adjusted after EO and relevant tax |
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