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KRChoksey Report
Infosys reported revenue of Rs 23,665 crore (over 8.5% yoy and +1.7% qoq) as largely attributed to favorable currency headwinds and uptake in Banking, Financial Services and Insurance (BFSI) segment. In U.S. dollar terms, revenue in Q1FY21 came at $3,121 million; down by -2.4% qoq / -0.3% yoy. BFSI segment showed quick recovery (+2.1% on Constant Currency terms) in the U.S. and Asian markets primarily in the cloud computing segment. Capital markets and payments continue to show pressure.
As expected, Retail (-7.4% on CC terms) remained under pressure with non-essential areas. Energy and manufacturing segments were largely flat due to minimal economic activity. Besides, the company is seeing huge demand in the areas of digital such as cloud, automation and vendor consolidation. Driven by these favorable dynamics, the company resumed its guidance, with FY21 revenue growth guidance of 0-2% yoy in CC terms and operating margin in the range of 21-23%. In terms of fresher hiring, the company is looking to add 20,000 freshers by H2 FY21.
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