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Motilal Oswal Report
Infosys Ltd. reported constant currency U.S. dollar revenue growth of 5.3% QoQ (versus our estimate of 3.2%) in Q3 FY21.
This is its best QoQ growth in the last eight years. Growth was broad-based across verticals and regions.
In nine months of FY21, revenue (U.S. dollar)/Ebit/profit after tax grew by 3.8%/26%/16.4%.
The company reported its best-ever total contract value of $ 7.1 billion (net new wins of 73%), two times book-to-bill, and above the combined TCV of the last three quarters.
While we see a large impact from the Daimler win, other deal wins were much ahead of our estimate.
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