Infosys Q1 Review - Stronger Revenue Outlook To Drive Valuation Premium: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Infosys Ltd. reported a growth of 5.5% QoQ in constant currency terms, above our estimate of 3.9%, led by strong growth across industry verticals, excluding financials. While large deal total contract value ($1.7 billion, net new at 50%) was soft, the management indicated continued traction in the large deal pipeline and demand. Though it indicated weakness in parts of financials and retail, Infosys raised its FY23 revenue growth guidance to 14-16% from 13-15% in last quarter. Ebit margin dipped by 150 basis points QoQ to 20.1%, below our estimate of 20.8%, on higher wage hikes and robust employee hiring in Q1 FY23 (up 21,000 QoQ). We were positively surprised by Infosys’ guidance revision, especially given the moderating macroeconomic environment. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Infosys Q1 Review - Stronger Revenue Outlook To Drive Valuation Premium: Motilal Oswal