Higher exposure to digital business led to tepid revenues: Infosys management

economictimes.indiatimes.com:

Infosys has reasoned higher exposure to digital business as the key reason for the moderate growth in revenue over the nine-month period ending December in the current fiscal year, as per a research note by Nomura Holdings.

“Infosys management believes its higher exposure to discretionary work (digital business, which formed ~65% of revenue) has been a key reason behind tepid revenue growth in the current environment,” said a Global Markets Research report on Infosys by Nomura.

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Nomura presented the report highlighting key takeaways from investor meeting with the Infosys management in February.

In the nine month period in FY24 from April to December, Infosys won $13 billion in deals.

Citing the strong deal wins, the Infosys management also defended questions around senior leadership attrition hurting growth prospects of the company.

“Infosys noted that it has a deep bench of senior leadership in the company. Of the 90+ SVP and EVPs in the company, ~50% have been with Infosys for more than 20 years and 30% have been with the company for more than 25 years.

It pointed out that all the roles of the recent senior leadership departures have been filled internally (Jayesh Sanghrajka replaced Nilanjan Roy as CFO, Dennis