Infosys expects 12-14% growth in FY22; closes FY21 with most contracts ever – News 24-7 Live News 24-7 Live
Infosys expects 12-14% growth in FY22; closes FY21 with most contracts ever

Infosys expects 12-14% growth in FY22; closes FY21 with most contracts ever

Bengaluru-based IT services company Infosys recorded a sequential growth of 2 per cent in constant currency terms during the fourth quarter of FY21 with revenues coming in at $3,613 million. The digital revenue at $1,859 million now makes up for 51.5 per cent of the overall revenues. The operating margin for the company for the quarter stood at 24.5 per cent.

Barring a marginal uptick in business segments like manufacturing and others, the rest of the segments, such as BFSI, retail and communications, remained muted for the quarter. On a full-year basis, the company added over $780 million incremental revenue, growing at 5 per cent in FY21. The full year revenue stood at $13.5 billion, as compared to $12.7 billion in FY20.

The digital revenues for the full year stood a 48.5 per cent of total revenues, while Operating margin at 24.5 is an expansion of 3.2 per cent year-on-year. In a tough year, Salil Parekh, CEO and MD of Infosys, pointed out that the capabilities built around digital services and vendor consolidation provided the required tailwind.

News Source: businesstoday

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