Global IT services giant Infosys (NYSE: INFY) today announced revenue rose 20.6% year over year in constant currency in its fiscal fourth quarter ended March 31. Gross margin at the Bengaluru, India-based company rose 5.5%.
The company said the growth, the highest in a decade, was broad-based and supported by continued momentum in large-deal wins.
| (US$ millions) | Q4 2022 | Q4 2021 | % change | % constant currency |
| Revenue | $4,280 | $3,613 | 18.5% | 20.6% |
| Gross profit | $1,325 | $1,256 | 5.5% | |
| Gross margin percentage | 31.0% | 34.8% | ||
| Net profit | $753 | $697 | 8.0% |
“With the acceleration of digital disruptions across industries, we see immense potential to engage and partner with clients as they transform, adapt and thrive,” said Infosys CEO and Managing Director Salil Parekh.
Full-year results
| (US$ millions) | FY 2022 | FY 2021 | % change | % constant currency |
| Revenue | $16,311 | $13,561 | 20.3% | 19.7% |
| Gross profit | $5,315 | $4,733 | 12.3% | |
| Gross margin percentage | 32.6% | 34.9% | ||
| Net profit | $2,968 | $2,623 | 13.2% |
Guidance
Infosys expects revenue growth in its upcoming 2023 fiscal year of between 13% and 15% in constant currency. Operating margin is expected to increase by 21% to 23%.
Share price and market cap
Shares in Infosys were down 5.10% in New York to $21.42 as of 12:06 p.m. Eastern time today; shares were 24.25% above their 52-week low. Its market cap is $96.36 billion.