Infosys, a global leader in next-generation digital services and consulting, announced results for the fourth quarter and year ended March 31, 2023, on Thursday, April 13, 2023, around 3.45 p.m. Indian Standard Time (IST) (6:15 a.m. ET; 3:15 a.m. PST; 11:15 a.m. London time; 6:15 p.m. Singapore/Hong Kong time).
Infosys Chief Financial Officer Nilanjan Roy said, “Our continued focus on cost optimization and operational efficiencies have helped in achieving operating margins of 21 percent in FY23.”
“Free cash generation in Q4, led by robust collections, was strong. Executing on our capital allocation policy, we successfully completed the share buyback and have proposed a final dividend of Rs 17.50 for FY23,” Nilanjan Roy added.
Infosys CEO and MD Salil Parekh said, “Our strong performance in FY23 is a testimony to the continued focus on digital, cloud, and automation capabilities which resonated with our clients. We have launched exciting programs with our clients leveraging generative AI platforms”.
“As the environment has changed, we see strong interest from our clients for efficiency, cost, and consolidation opportunities, resulting in a strong large deal pipeline”, Salil Parekh added.
Salil Parekh further added, “We have expanded our internal program on efficiency and cost to build a path to higher margins in the medium term. We continue to invest in our people and in supporting our clients.”
The company’s attrition rate during the fourth quarter dropped to 20.9 percent, as compared to 24.3 percent in Q3 FY23. The attrition rate in the September 2022 quarter was 27.1%. The percentage of Women Employees contribution as of March 31 is 39.4 percent.
The total employee count as of March 31 stood at 3,43,234, marking a drop of 3,611 employees as compared to the previous quarter. Infosys’ total employee count stood at 3,46,845 in Q3FY23.
TCS attrition for every quarter has seen a deep fall to 20.1 percent, continuing its downward trend from last quarter. TCS has reported attrition in Q3FY23 stood at 21.3 percent, a slight decline from 21.5 percent in Q2FY23 on a last-twelve-month basis.
The company’s headcount as of March 31, 2023, stood at 6,14,795. In the previous quarter, TCS in Q3FY23 posted a decline of 2,197 people in its employee base, and TCS headcount stood at 613,974 as on December 31, 2022.
