New Delhi: India's second-largest software services firm Infosys on Wednesday posted a 12 per cent year-on-year increase in consolidated net profit for the March quarter at Rs 5,686 crore, as it projected 13-15 per cent revenue growth for FY23 on the back of a "strong demand environment" and "robust deal pipeline".
The company also asserted it is not engaged in any business with Russian clients currently, nor has any such plans going ahead.
Infosys posted net profit (after minority interest) of Rs 5,686 crore in the just-ended quarter, as against Rs 5,076 crore in Q4 FY21.
The Q4 scorecard translates into a 12 per cent year-on-year growth in net profit, although the numbers on a sequential basis are 2 per cent lower than the December quarter.
Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in Q4 FY22, from Rs 26,311 crore in the year-ago period.
The IT services giant has pegged revenue growth outlook at 13-15 per cent for full year FY23.
At the start of FY22, Infosys had projected that full year revenue will grow 12-14 per cent in constant currency terms. During the year, the company upped its outlook a few notches and in January this year it increased its revenue growth guidance for FY22 to 19.5 - 20 per cent.
"Our sustained momentum in FY22, large deal wins, robust deal pipeline and client confidence in our capabilities gives us comfort to provide a guidance of 13 to 15 per cent for growth in fiscal 2023 in constant currency terms," Salil Parekh, CEO and MD of Infosys, told reporters in a briefing.
For full year FY22, Infosys' net profit was up 14.3 per cent to Rs 22,110 crore, as revenue rose by 21 per cent to Rs 1,21,641 crore compared to the previous fiscal.
Parekh noted that the company's growth during the fiscal had been broad-based, spread across business segments, service lines and geographies.
"We see the demand environment to be robust today. Yes, on the macro environment...there's a lot of talk going on. But in our pipeline and the work that we are doing in digital and cloud, we see a clear demand with our client base," Parekh said.