Infosys Limited (NYSE:INFY) Q3 2024 Earnings Conference Call January 11, 2024 8:30 AM ET

Company Participants

Sandeep Mahindroo - Head of IR

Salil Parekh - CEO

Nilanjan Roy - CFO

Conference Call Participants

Kumar Rakesh - BNP Paribas

Nitin Padmanabhan - Investec

Moshe Katri - Wedbush Securities

Ankur Rudra - JPMorgan Chase

Bryan Bergin - TD Cowen

Keith Bachman - Bank of Montreal

Jamie Friedman - Susquehanna International Group

Sumeet Jain - CLSA

Yogesh Aggarwal - HSBC

Vibhor Singhal - Nuvama Equities

Gaurav Rateria - Morgan Stanley

Sandeep Shah - Equirus Securities

Kawaljeet Saluja - Kotak

Manik Taneja - Axis Capital

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. [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

Hello, everyone, and welcome to Infosys earnings call for Q3 FY '24. Let me start by wishing everyone a very happy New Year. 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 Q3, subsequent to which we'll open up the call for questions.

Please note that anything we say that refers to our outlook for the future is a forward-looking statement that must be read in conjunction with the risk that the company faces. A full statement and 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 evening, and good morning to everyone on the call. Wish you a happy New Year. Our Q3 revenue declined by 1% quarter-on-quarter and 1% year-on-year in constant currency terms. For the first three quarters, our revenue grew by 1.8% over the same period last year in constant currency.

We see lower traction for digital transformation programs and more activity for cost and efficiency programs and increasing interest in generative AI programs. Our operating margin was at 20.5%. We delivered this outcome while managing through one-off business disruptions. Nilanjan will provide more detail for this.