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Infosys: Growth of 4.2% in CC, operating margin expansion of 0.5% in FY25

17 aprile 2025 | 15.58

LETTURA: 13 minuti

- Highest ever Free Cash Flow at $4.1 billion for FY25- FY26 revenue guidance at 0%-3% and operating margin at 20%-22%

BENGALURU, India, April 17, 2025 /PRNewswire/ -- Infosys (NSE: INFY), (BSE: INFY), (NYSE: INFY), a global leader in next-generation digital services and consulting, delivered $19,277 million in FY25 revenues, growth of 4.2% in constant currency. Operating margin was at 21.1%, expansion of 0.5% year on year. Free cash flow was the highest ever at $4,088 million, an increase of 41.8% year on year. TCV of large deal wins was $11.6 billion for the year, with 56% net new.

Q4 revenues were $4,730 million, an increase of 4.8% year on year in constant currency and 3.6% in reported terms. Operating margin was at 21.0%, an increase of 0.9% year on year.

"We have built a resilient organization with sharp focus on client-centricity and responsiveness to the market, thanks to the trust of our clients and dedication of our employees. Our performance for the year has been robust in terms of revenues, expansion in operating margins and highest ever free cash generation", said Salil Parekh, CEO and MD. "Our depth in AI, cloud and digital and strength in cost efficiency, automation, and consolidation position us well for the needs of our clients", he added.

4.2% FY4.8% Q4 YoY CC Growth

21.1% FY21.0% Q4Operating Margin0.5% Increase in FY

8.3% FY10.1% Q4EPS Increase (₹ terms)*

$11.6 Bn FY$2.6 Bn Q4Large DealTCV

$4.1 Bn FY$0.9 Bn Q4 Free Cash Flow

Guidance for FY26:

Key highlights:

For the quarter ended March 31, 2025

Revenues in CC terms grew by 4.8% YoY and declined by 3.5% QoQ

Reported revenues at $4,730 million, growth of 3.6% YoY

Operating margin at 21.0%, increase of 0.9% YoY and decline of 0.3% QoQ

Basic EPS at $0.20, decline of 15.2% YoY

FCF at $892 million, growth of 5.2% YoY;

FCF conversion at 109.6% of net profit

For the year ended March 31, 2025

Revenues in CC terms grew by 4.2% YoY

Reported revenues at $19,277 million, growth of 3.9% YoY

Operating margin at 21.1%, growth of 0.5% YoY

Basic EPS at $0.76, decline of 0.3% YoY

FCF at $4,088 million, growth of 41.8% YoY;

FCF conversion at 129.3% of net profit

"FY25 operating margins expanded by 0.5% which reflects our relentless focus on identifying opportunities for efficiency and executing Project Maximus with discipline, after navigating through multiple headwinds in a challenging macro environment. We delivered the highest ever free cash flows in the history of the company in FY25," said Jayesh Sanghrajka, CFO. The Board has proposed a final dividend of `22, which along with the interim dividend, is an increase of 13.2% over last year," he added.

*EPS Increase post normalization of Income Tax refunds

1. Client wins & Testimonials

2. Recognitions & Awards

Brand

AI and Cloud Services

Key Digital Services

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Industry & Solutions

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Read more about our Awards & Recognitions here.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by the cloud. We enable them with an AI-powered core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Certain statements in this release concerning our future growth prospects, our future financial or operating performance, the McCamish cybersecurity incident are forward looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid working model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, the amount of any additional costs, including indemnities or damages or claims, resulting directly or indirectly from the McCamish cybersecurity incident and the outcome and effect of related litigation. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at https://www.sec.gov/. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

Infosys Limited and subsidiariesExtracted from the Condensed Consolidated Balance Sheet under IFRS as at: (Dollars in millions)
	March 31, 2025	March 31, 2024
ASSETS
Current assets
Cash and cash equivalents	2,861	1,773
Current investments	1,460	1,548
Trade receivables	3,645	3,620
Unbilled revenue	1,503	1,531
Other current assets	1,890	2,250
Total current assets	11,359	10,722
Non-current assets
Property, plant and equipment and Right-of-use assets	2,235	2,323
Goodwill and other Intangible assets	1,505	1,042
Non-current investments	1,294	1,404
Unbilled revenue	261	213
Other non-current assets	765	819
Total non-current assets	6,060	5,801
Total assets	17,419	16,523
LIABILITIES AND EQUITY
Current liabilities
Trade payables	487	474
Unearned revenue	994	880
Employee benefit obligations	340	314
Other current liabilities and provisions	3,191	2,983
Total current liabilities	5,012	4,651
Non-current liabilities
Lease liabilities	675	767
Other non-current liabilities	477	500
Total non-current liabilities	1,152	1,267
Total liabilities	6,164	5,918
Total equity attributable to equity holders of the company	11,205	10,559
Non-controlling interests	50	46
Total equity	11,255	10,605
Total liabilities and equity	17,419	16,523

Extracted from the Condensed Consolidated statement of Comprehensive Income under IFRS for
(Dollars in millions except per equity share data)

	3 months endedMarch 31, 2025	3 months ended March 31, 2024	3 months ended March 31, 2024	Year ended March 31, 2024

Revenues	4,730	4,564	19,277	18,562
Cost of sales	3,302	3,219	13,405	12,975
Gross profit	1,428	1,345	5,872	5,587
Operating expenses:
Selling and marketing expenses	226	209	898	842
Administrative expenses	210	219	903	911
Total operating expenses	436	428	1,801	1,753
Operating profit	992	917	4,071	3,834
Other income, net^{(3) (4)}	125	315	376	512
Profit before income taxes	1,117	1,232	4,447	4,346
Income tax expense ⁽⁴⁾	303	273	1,285	1,177
Net profit (before minority interest)	814	959	3,162	3,169
Net profit (after minority interest)	813	958	3,158	3,167
Basic EPS ($) ⁽⁴⁾	0.2	0.23	0.76	0.77
Diluted EPS ($) ⁽⁴⁾	0.2	0.23	0.76	0.76