Infosys Limited (INFY) Q2 2023 Earnings Call Transcript

Infosys Limited (NYSE:INFY) Q2 2023 Earnings Conference Call October 13, 2022 8:00 AM ET

Company Participants

Sandeep Mahindroo - Investor Relations

Salil Parekh - Chief Executive Officer and Managing Director

Nilanjan Roy - Chief Financial Officer

Conference Call Participants

Ankur Rudra - J.P.Morgan

Moshe Katri - Wedbush Securities

Ashwin Mehta - Ambit Capital

James Friedman - Susquehanna

Zach Ajzenman - Cowen

Keith Bachman - BMO Capital Markets

Aniket Pande - ICICI Securities

Kumar Rakesh - BNP Paribas

Dipesh Mehta - Emkay Global

Nitin Padmanabhan - Investec

Sandeep Shah - Equirus Securities

Manik Taneja - JM Financial

Ravi Menon - Macquarie

Operator

Ladies and gentlemen, good day, and welcome to Infosys Limited Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode. There will be an opportunity for you to ask questions after the presentation concludes. [Operator Instructions] Please note that this conference is being recorded.

I now hand the conference over to Mr. Sandeep Mahindroo. Thank you, and over to you, sir.

Sandeep Mahindroo

Thanks, Inba. Hello, everyone, and welcome to Infosys' earnings call to discuss Q2 FY '23 financial results. This is Sandeep from the Investor Relations team in Bangalore.

Joining us today on this call is CEO and MD, Mr. Salil Parekh; CFO, Mr. Nilanjan Roy; and other member of the senior management team. We'll start the call with some remarks on the performance of the company by Salil and Nilanjan subsequent to which we'll open up the call for questions. Kindly note that anything that we say with refers to our outlook for the future is a forward-looking statement, which must be read in conjunction with the risk that the company faces. A full statement explanation of these risks is available in our filings with the SEC, which can be found on www.sec.gov.

I'd now like to pass on the call to Salil.

Salil Parekh

Thanks, Sandeep, good afternoon, good evening and good morning to everyone joining the call, and thank you for joining our call.

Our Q2 performance was strong with year-on-year growth at 18.8% and sequential growth at 4% in constant currency. Growth in Q2 was broad-based, with all industries and geographies growing in double-digits in constant currency. Growth in constant currency in the first half of financial year ‘23 was 20.1%, compared to first half of financial year ’22. This momentum is accompanied by a strong pipeline of large deals and the highest large deal value in the last seven quarters of $2.7 billion, 54% of this was net new. These elements are a clear reflection of the deeply differentiated digital and cloud capabilities we have developed that are highly relevant to our clients’ strategic priorities.