Infosys Q1 Result: Revenue guidance trimmed, headcount falls QoQ; six key points from the IT major's Q1FY24 earnings

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₹5,945 crore, compared to ₹5,360 crore in the corresponding period last year. Revenue rose 10 per cent YoY to ₹37,933 crore. The company registered an operating profit of ₹7,891 crore which was 14.1 per cent YoY while the operating margin came at 20.8 per cent up 70 bps against 20.1 per cent YoY.

In constant currency terms, Infosys' Q1FY23 revenue grew 4.2 per cent YoY and one per cent QoQ. Read more: Infosys Q1 Results: Net profit rises 11% on year to ₹5,945 crore Reveue of financial services and communication segments declined on a yearly basis. Rest all grew during the quarter under review.

Financial services revenue declined 4.7 per cent YoY while revenue of the communication segment declined 6.1 per cent YoY. Revenue of the manufacturing segment saw a healthy growth of 21.3 per cent YoY while the life sciences segment also rose significantly by 14.9 per cent YoY. The 'others' segment revenue rose 28 per cent YoY.

Retail (up 4 per cent YoY) and Hi-tech (up 2.5 per cent YoY) saw tepid growth in Q1FY24. The company added 99 clients during Q1FY24 whereas in the same quarter last year, it added 106 clients and in the last quarter (Q4FY23) it added 115 clients. Overall, it had 1,883 active clients as on June 30, 2023, up from 1,778 clients it had as on June 30, 2022, and 1,872 clients as on March 31, 2023.

The company's revenue from Europe rose by 10.9 per cent YoY, followed by India (up 9.3 per cent). Revenue from North America saw a mild growth of 2.3 per cent YoY while revenue from the 'rest of the world' declined by 4.5 per cent YoY. Infosys revised revenue guidance for FY24 to 1-3.5 per cent but retained its operating margin guidance for the year.