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IDBI Capital Report
Infosys Ltd. had another quarter of an all-round beat to ours and consensus forecast.
Q2 FY21 revenue grew by 4% QoQ in constant currency terms and 6.1% QoQ in U.S. dollar versus our forecast up 2.1% in CC.
Further, Ebit margin saw a whopping improvement of 270 basis points QoQ to 25.3% (18 quarter high).
Earning per share of Rs 11.4, up 14.4%/up 20.8% QoQ/YoY also beat our forecast.
In Q2 FY21 saw an all-time high large-deal total contract value of 3.1 billion U.S. dollar (net new wins being approximately 83%).
The company's upward revision in guidance was also ahead of our and consensus expectation.
It has now guided for revenue growth of 2-3% YoY in CC versus 0-2% earlier and Ebit margin of 23-24% versus 21-23% earlier.
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