Infosys Limited (NYSE:INFY) Q1 2025 Earnings Conference Call July 18, 2024 8:30 AM ET

Company Participants

Sandeep Mahindroo - Head of Investor Relations
Salil Parekh - Chief Executive Officer and Managing Director
Jayesh Sanghrajka - Chief Financial Officer

Conference Call Participants

Ankur Rudra - JPMorgan
Keith Bachman - BMO Capital Markets
Kumar Rakesh - BNP Paribas
Nitin Padmanabhan - Investec
Vibhor Singhal - Nuvama Equities
Gaurav Rateria - Morgan Stanley
Bryan Bergin - TD Cowen
James Friedman - Susquehanna
Sumeet Jain - CLSA
Kawaljeet Saluja - Kotak Securities
Jonathan Lee - Guggenheim Partners
Girish Pai - BOB Capital Markets

Operator

Ladies and gentlemen, good day, and welcome to Infosys Earnings Conference Call. As a reminder, all participant lines will be in the 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

Thanks, Nirav. Hello, everyone, and welcome to Infosys earnings call for Q1 FY'25. Joining us on this call is CEO & MD, Mr. Salil Parekh; CFO, Mr. Jayesh Sanghrajka, and other members of the leadership team. We'll start the call with some remarks on the performance of the company, subsequent to which the call will be opened up for questions.

Please note that anything we say which refer 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 and explanation of all 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. We started the financial year with a strong performance in quarter one across multiple dimensions, including broad-based revenue growth expansion -- broad-based revenue growth, expansion in operating margin, strong large deal wins, and strong cash generation.

Our revenues for the quarter grew 3.6% sequentially and 2.5% year-on-year in constant currency terms. I'm particularly pleased with 7.9% growth in financial services segment where we are seeing improvement in client spend in North America.

All geographies and most industry groups grew sequentially, volume growth turned positive after several quarters, we also had an improvement in realization. We had another quarter of strong large deal wins with 34 large deals at a total contract value of $4.1 billion. Our clients see us as a preferred partner of choice for consolidation, cost takeout, and efficiency programs. This is also a reflection of our leadership trend.