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INFY Information Technology 12 Oct 2023

Infosys — Q2 FY24

Infosys reported Q2 FY24 revenue growth of 2.5% YoY in constant currency, with operating margin at 21.2%, up 40 bps sequentially.

neutral high
Compare with...
Revenue ₹38,994 Cr +2.5%
EBITDA —
PAT ₹6,215 Cr
EBITDA Margin 21.2%
Duration —
Read Time 1 min read

✓ Verified against BSE filing

Risk Intelligence

Material risks this quarter

Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.

Risks

R

Prolonged discretionary spending slowdown

Clients continue to cut discretionary and transformation projects, with no expected recovery in calendar 2024, which could further pressure revenue growth.

high · management_commentary
R

Large deal ramp-up delays

Mega deals are taking longer to start contributing revenue due to rebadging, regulatory approvals, and transition periods, potentially delaying growth inflection.

medium · analyst_question
R

Margin pressure from wage hikes and third-party costs

Compensation hikes effective November 1 and increased third-party pass-through costs could offset margin gains from Project Maximus.

medium · analyst_question
R

Concentration risk in soft verticals

Financial services, telecom, and retail continue to face headwinds, and any further deterioration could disproportionately impact Infosys given its exposure.

medium · data_observation