Infosys Limited (NYSE:INFY) Q2 2024 Earnings Conference Call October 12, 2023 8:30 AM ET

Company Participants

Salil Parekh - Chief Executive Officer

Nilanjan Roy - Chief Financial Officer

Sandeep Mahindroo - Head of Investor Relations

Conference Call Participants

Bryan Bergin - Cowen

Kawaljeet Saluja - Kotak

Moshe Katri - Wedbush Securities

Kumar Rakesh - BNP Paribas

Sandeep Shah - Equirus Securities

Nitin Padmanabhan - Investec

Vibhor Singhal - Nuvama Equities

Ashwin Mehta - Ambit Capital

Gaurav Rateria - Morgan Stanley

Keith Bachman - Bank of Montreal

Yogesh Aggarwal - HSBC

Vivek Gedda - SBI Mutual Fund

Abhishek Kumar - JM Financial

Apurva Prasad - HDFC Securities

Operator

Ladies and gentlemen, good day and welcome to the Infosys earnings conference call.

As a reminder, all participant lines will be in listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. 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

Hello everyone and welcome to Infosys’ earnings call for Q2 FY24. Joining us on this call is CEO and MD, Mr. Salil Parekh, CFO Mr. Nilanjan Roy, and other members of the leadership team.

We’ll start the call with some remarks on the performance of the company for Q2 followed by comments from Salil and Nilanjan, subsequent to which we’ll open up the call for questions. Kindly note that anything we say with reference to our outlook for the future is a forward-looking statement which must be read in conjunction that the risks that the company faces. A full statement explanation of these risks is available in the filings with the SEC, which can be found on www.sec.gov.

I’d now like to pass it on to Salil.

Salil Parekh

Thanks Sandeep. Good afternoon, good evening, good morning to everyone on the call. Thank you very much for joining us.

We’ve had a strong quarter in Q2. Our growth was 2.3% quarter-on-quarter and 2.5% year-on-year in constant currency. Our operating margin was at 21.2%. Large deals was at the highest ever for us at $7.7 billion and 48% of this was net new. Our Q2 large deals include four mega deals. It does not include the MOU we signed and announced for $1.5 billion.