Is it time to think about this strategically? Yeah, hi. First was the cost deferrals, which we’ve talked about in terms of promotions, the wage hikes, the recruitment fees, which we had implemented at the beginning of the quarter, first quarter. Second is, also we had cut discretionary expenditure like travel, as you can see that in our results. How do you see this in the next — in the rest of the year? Thank you. So we don’t see anything negative in the outlook. Bank Holidays in January. Dividend: The company declared an interim dividend of Rs 12 per equity share and fixed October 26, 2020, as the record date for interim dividend and November 11, 2020, as the payment date. Thanks a lot. We increased our revenue guidance for the full year from 0% to 2%, moving it to 2% to 3% growth in constant currency year-over-year. So you can always see these ups and downs as well. We have discussions in those areas where we see some traction. Check out why Infosys share price is falling today. One is an area which is on everything related to digital transformation for which a large part of it is cloud and the area around cloud migration, but also cloud deployment, building cloud first applications, rolling out SaaS, working in public and hybrid cloud, private cloud environments. And even in fact wherever we are seeing some of our core shrinking, we also have a play because part of the core shrinking is also because we are proactively taking ideas to customer, taking cost out and other thing. Our industry-leading performance over the first half of this year has been due to the immense commitment of our over 240,000 employees. I think the way to look at it, as Pravin was sharing earlier is, if you look, let’s say, 12 months ago or 24 months ago, the new — net new number — percent number, we see it’s good in this quarter for sure, but in general, in the pipeline it seems to be a little bit higher than that percentage is a way Pravin described it. We restarted promotions in the last quarter at our junior levels, this will now be extended across all levels. And then there are other areas, for example, on data, on experience, which are in good traction. In terms of freshers in India, this year, we expect to add about — onboard about 16,500 people. Hi. And next year, we are planning to add another 15,000 people, mainly freshers in India. Hi. You did talk about how legacy is likely to kind of be taken out, the core gets modernized and therefore that trend of negative momentum that we have seen could continue, but we have seen in the last two quarters the pace of core decline accelerate. We see a tremendous traction on the cloud side and we feel in quite good in many cases. For the year ending March 2020 Infosys has declared an equity dividend of 350.00% amounting to Rs 17.5 per share. We continue to have a strong pipeline of deals in this segment and have won two large deals in the last quarter which should help in stabilizing performance for this segment. Understood. We’ve generally modeled it from a view of what we’ve seen as a past view of the business plus the current deals that we have closed and the pipeline that we’re seeing, and we are seeing good traction all around, as we’ve described, and it’s a big change zero to two to two to three. We however remained cautious on this segment given continuing demand and liquidity issues and possibly increased furloughs in the coming months. We delivered operating margin of 25.4%, which is an expansion of 370 basis points year-on-year and 270 basis points sequentially. I think these are the two broad questions. Share of new deals was 86%. We don’t have a targeted percentage from M&A. Infosys Q2 net profit up 20% at Rs 4,845 crore, revises FY21 revenue guidance - Infosys revenues totalled Rs 24,570 crore, marking a growth of 8.6 per cent y-o-y and 3.8 per cent q-o-q. This is Salil. Hopefully, we keep up the execution and that sustains for us. Thanks for taking my question, and congrats on a blowout quarter this quarter. Hi, everyone. such as mortgage servicing, call center technology and operations, lending services to cater to various government relief programs as well as pick-up of large digital transformation programs. Any reproduction, redistribution or retransmission is expressly prohibited. But as long as your overall growth — you are also seeing overall growth, then it’s positive for us. Large deal wins, which are wins of worth about $50 million in TCV per contract were at $3.15 billion. Fantastic. Equally, structurally, there is now more understanding of what are the possibilities and option. Infosys Q2 Earnings: Infosys declared an interim dividend of Rs 7 per share, which will be paid on October 30, it said in a statement. I now hand the conference over to Mr. Sandeep Mahindroo. Thank you. Large deal wins in quarter two was the highest ever at $3.5 billion. If we see something dramatic in terms of second wave, in terms of COVID, that is not something that we have pertained into a model. Infosys’ free cash flows grew significantly in the first half, driven by its consistent focus on liquidity and cash management, said the company. Revenues for the quarter grew 4% sequentially in constant currency. While there are disruptions for segment, we are seeing opening up of pockets, although the pace of recovery may remain sluggish. And secondly, in general, I think the IT spend is always a percentage of overall revenues and more often than not it remains the same steady percentage and people are able to fund some of the discretionary spend or digital spend by repurposing from — taking away from core. While we strive to produce the best transcripts, it may contain misspellings and other inaccuracies. We are also focused — they are also focused — they also recognized that employees have been under stress. Benefits from reduction in SG&A and other expenses were offset by increase in depreciation and amortization and cross-currency headwinds. Infosys CEO and Managing Director Salil Parekh said, "The second quarter performance is a … Infosys Q2 net profit rises 20.5% to Rs 4,845 crore. Okay, great. Thank you. Thanks, Salil. Thanks for the opportunity. The increase in RPP is a remarkable achievement. The next question is from the line of Sandip Agarwal from Edelweiss. And second, what kind of a macro environment are you building in your guidance given that the band also is now reduced? On the headcount, obviously, the headcount increase will be in line with the growth. I’ll come back to you before the call end. This quarter we had 5,005 additions. Consequently, we are increasing our interim dividend per share by 50 per cent to Rs 12." One is, the leakage on core has still been quite high in the current quarter also, and all our strong growth and good work on digital is still get hurt because of that. I don’t know there will be an acceleration. And first of all, congrats on excellent execution and excellent numbers. Growth accelerated during the quarter as economies across the world started opening up gradually, and clients focused on technology to help overcome the impediments. Will you, for example, think about this to enter market space in a situation which you otherwise wouldn’t participate to try and expand your addressable market if this deal win sustains? So these are the different strategic levers. This is Salil. Well, we are not decoupling large deals number, as you know. The Infosys logo (REUTERS) Infosys Q2 results: Net profit rises 21% to ₹ 4,845 crore, beats estimates 1 min read. On the second one, Pravin will comment on the net new and the renewal. The next question is from the line of Pankaj Kapoor from CLSA. Thank you for the opportunity. Clearly this is an exceptional year in more ways than one with so many moving parts and variable element. Please go ahead. The sequential improvement in margins was led by 100 basis points improvement due to increase in RPP, 80 bps due to a 2.4% increase in utilization and 80 bps due to a 1.9% improvement in onsite offshore mix, partly due to the temporary travel restrictions. Did you say how much the Vanguard deal was within the $3.15 billion of signings? Please go ahead. Please go ahead. Thank you. What was the growth rate of that year-over-year, is my first question. So I think we’ve been very focused over the last two years in the margin guidance band on 21% to 23% because the year prior to that when we rolled out the new strategy, this was about making the investments in the hubs, in the sales force side, and clearly that, which had an impact on margin. Infosys share price live updates on The Economic Times. That’s first part of my question. And given operating model, we can build a good business in them at our margin structure for the future. Infosys Q2 Results: IT major's net profit up 20% at Rs 4,845 crore; key highlights. Looking at what they’re doing at revenues starting earlier on localization, an extreme focus on rescaling that we’ve put into place and our own internal digital infrastructure, which has helped us. Is this due to some planned offshore shift or conservatism on the outlook based on something you are seeing out there and building it? Please go ahead. Thanks a lot. Obviously — probably, I mean, if you look at historical thing, maybe the percentage of net new in this pipeline is probably on the higher side. The information technology (IT) services major had posted a profit of Rs 4,019 crore in the year-ago period. I also wish all Infoscions good health and also very good gesture by management of rewarding employees in line with world-class technology companies like Amazon. the onsite pyramid as well. Quarter two revenues included only a marginal contribution from the Vanguard deal, which should start ramping up from quarter three onwards. So like I mentioned in my speech that we have seen this benefit both of our three levers which we kick-started at the beginning of the year. I mean, it’s a combination of two things. I know you said there was tension on some forces at work that would suggest more onshore work, but the cost advantage of offshore work in the quarter was 73.9. Is that largely operations led? We’ll not quantify it in our business model the percentage that will come in that sense from M&As. And I’ll cede the floor. So there is lot of focus on both physical and mental wellness and so on. Infosys declared interim dividend of ₹8 per share.Q2 revenues of Infosys grew 11.4% year-on-year in constant currency Infosys Limited Q2 2021 earnings call dated Oct. 14, 2020. In keeping with some of that and our own capabilities, we launched our own cloud, set of assets under the name of Infosys Cobalt. Many thanks, guys. The numbers also topped expectations and the company’s stock gained during the. Ladies and gentlemen, that was the last question for today. Yeah, hi. And also has helped us to scale the work from home very rapidly in this COVID landscape, which has given increased trust with our clients. We now announced plans to hire an additional 12,000 U.S. workers over the next two years, bringing our hiring commitment in the U.S. to 25,000 over five years. So are you expecting some decline in certain verticals going forward? So that will be the way play. But as Nilanjan explained, there were some specific reasons we are also quite focused on RPP, but we’re going to make sure over time we find a sustained method of doing it. GST Collections . We definitely see market share gain going on in that play. The second relates to efficiency which is focused on automation, cost efficiency and how the IT estate can essentially be modernized in that sense and made to be more efficient for our clients. Cost take-out is a major focus for our clients across sectors. For example, scaling our digital, working very focused way on looking at large deals. Salil, you can add. I think we’ve done a lot of work around broad basing the pyramid offshore and are now looking at that for the onsite as well. You are absolutely right. Written By: ZeeBiz WebTeam. And about 2,500 laterals. We continue to maintain a very strong debt-free and liquid balance sheet. We added 96 clients during the quarter, while the number of 100 million clients increased by sequentially to reach 30 at the end of quarter two. We believe our localization approach is a significant market differentiator and will help us better navigate regulatory changes. I think we are well on our way of doing similar numbers this year, well above $150 million. Region-wise, 11 were from America, four were from Europe and one from Rest of the World. At the current share price of Rs 1265.50, this results in a dividend yield of 1.7%. Collections remained robust with DSO reducing by two days to 69. Client metrics remained strong. And we are delighted with the growth we’ve seen overall and in digital and with the margin profile of our business. It’s — there are not obviously loads of them, but there is a decent number of them and there is a decent number of other sizes as well. Automation remains at the heart. It’s slightly more moderated discount environment. Thank you. But excluding that, what is the nature of services that you’re largely seeing within these deals? We continue to get more and more productive and efficient for our clients. Do you see client funding incremental spends through higher offshore shift going forward? I said there is no way you can take the 23% to 24% as a sustainable number going forward. If a stock is valued near, or slightly below the market average, research has shown that the market expects the stock’s dividend to increase. Manufacturing segment was stable during the quarter, which is a massive improvement from the sequential decline in quarter one. The feedback from clients remains positive and the dedication of employees is tremendous. A complete statement and explanation of these risks is available in our filings with the SEC, which can be found on www.sec.gov. So have you factored in any potential second wave of pandemic coming in the end user market or do you think that this is something which could be over and above to what you will estimate to us? Part of it is that. Hi, Kawal. So as long as we continue to grow and we continue to have a role to play, both in terms of core as well as in the digital spend, then I think we view it as a very positive thing. The packaged foods company reported second quarter revenue of $3 billion, up 6.2% year-over-year, Constellation Brands (NYSE: STZ), the largest beer producer in the U.S, reported third-quarter 2021 earnings results today. I think you are right. Recognizing the continuing stellar contribution from our employees during these times, we are paying out a variable pay for the quarter at 100%. It’s in our pipeline. The second thing is, the price with the increase in RPP, I thought that we are living in recessionary — I mean actually in rescission and this had backdrop. Improved Q2 margin performance has consequently led to H1 operating margins at 24.1%, higher than the 21% to 23% band and 3% higher compared to 21.1% reported for the comparative prior period. However, there are furlough impact in Q3 normally, and traditionally Q4 has always been a soft quarter for Infosys. Pravin, I can just chip in quickly on that. I think the main thesis, as you alluded, is really taking cost out of existing estate through automation or other means and funding it — funding programs which gave the growth, differentiation, access and experience for our clients for their work going forward. Infosys Limited NSE Symbol:INFY, BSE Security Code:500209 informed the stock exchange, that the Board of Directors of the company have declared an interim 240.00% dividend of Rs.12.00 per equity share of face value of Rs.5.00 for the fiscal year 2020-21. Just two clarifications, if I may. The past three months also saw us announce three acquisitions; GuideVision, focused on ServiceNow; Blue Acorn, focused on Adobe; and Kaleidoscope, focused on medical product design. We’ve done something in ServiceNow. In terms of this year, specifically, we don’t have a target that how much will come from M&A. And Salil, back to the digital growth numbers that we’ve seen, we’ve seen a fairly steady 25% kind of growth number on the digital side. Our balance sheet remained strong with cash and investments positioned at $4.6 billion with no debt. The Infosys Board announced an interim dividend of Rs 12 per equity share. I’ll go with that. The company also declared an interim dividend of Rs 12 per equity share and fixed October 26, 2020, as the record date for interim dividend and November 11, 2020, as payment date. Infosys announced dividend for (Q2) … So I think on the offshore perspective, if I got it right, you were suggesting that the — so far the offshore shift is travel restriction-based, but there could future offshore shifts based on the experience that we have seen so far. Categories Earnings Call Transcripts, Technology, Infosys Limited (NSE: INFY) Q2 2021 earnings call dated Oct. 14, 2020, Sandeep Mahindroo — Financial Controller and Head – Investor Relations, Salil Parekh — Chief Executive Officer and Managing Director, Pravin Rao — Chief Operating Officer and Whole-Time Director, Yogesh Aggarwal — HSBC Securities — Analyst, Keith Bachman — BMO Capital Markets — Analyst, Sandip Agarwal — Edelweiss Capital — Analyst, Kawaljeet Saluja — Kotak Securities — Analyst, Ladies and gentlemen, good day, and welcome to the Infosys Earnings Conference Call. Infosys Dividend Alert: Infosys Ltd will pay dividend of Rs 12 per equity share to its shareholders and has fixed 26 October 2020 as the record date for interim dividend while 11 November as the payment date. And in fact, we are seeing tremendous uptick in digital transformation, which started about couple of years back and this pandemic has only accelerated it as every client is looking at how to become resilient in the post-COVID world. Now I understand that certain cost deferrals had led to an increase in the margin band this year. Yeah. It’s finally — I mean, we have got a healthy mix of both renewals as well as net new in the mix. And secondly, and I appreciate that you said that there are some strategic cost levers and there are some that you cannot predict given the fluidity of the situation. The next question is from the line of Moshe Katri from Wedbush Securities. What is that target? Infosys Limited NSE Symbol:INFY, BSE Security Code:500209 informed the stock exchange, that the Board of Directors of the company have declared an interim 240.00% dividend of Rs.12.00 per equity share of face value of Rs.5.00 for the fiscal year 2020-21. We launched Infosys Cobalt where we brought together all our cloud services, platforms and solutions to support our clients in accelerating their cloud journey and reducing the risk to their cloud programs. Tata Consultancy Services (TCS) has announced a special dividend and a second interim dividend amounting to a total dividend of Rs 45 per equity share, while Infosys has declared an interim dividend of Rs 8 per equity share. One, obviously, it’s the combination of the market, but it’s also how we have reacted to the pandemic, the focus that we have put in terms of employee welfare, a lot of engagement with the employees in the virtual world. So the number of hiring was on the lower side this quarter. And as Salil had mentioned in earlier question, we will see some timing issues of that as travel returns. I’m grateful to our clients for their continued trust in us and I’m proud of our team for their incredible commitment to our clients. What is your understanding on the attrition level going forward? So they may have been — there may be some balancing there as well. When we look at your bid and proposal pipeline for the next six months to 12 months, would you say that the mix is different in terms of renewals versus new deals? Thank you. [Operator Instructions] The first question is from the line of Yogesh Aggarwal from HSBC. So you will always see as your digital share increases, you will always see the core shrinking because we are really talking about the same pie. We have launched more than 200 interventions, combination of — I mean involving families and we have also supported a lot during the pandemic, particularly in cases where employees have test positive and so on. Infosys Limited (NYSE:INFY) Q2 2021 Earnings Conference Call October 14, 2020 8:30 A.M. Joining us today on this call is CEO and MD, Mr. Salil Parekh; COO, Mr. Pravin Rao; CFO, Mr. Nilanjan Roy along with other members of the senior management team. Analysts: Yogesh Aggarwal — HSBC Securities — Analyst The sustained localization investments will ensure that we are able to continue servicing our clients across markets with the combination of local and global talent. As with all our articles, AlphaStreet, Inc. does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company’s SEC filings. So how should really one really think about the current year as margin band increase? Number two is, in terms of inorganic, it’s very, very small portion, many of them have just kicked off in terms of the signing implementation. Our operating cash flow was at $793 million, a 52% increased year-on-year. The uptick in business has been in areas that banks are investing in significantly post-COVID. Thanks, Sandeep. Sorry. And just lastly, the pandemic has clearly given you significant margin tailwind. So we will obviously try to drive that faster still, but we also have a large size, so we have to find a way to keep it at this level as well. We have moved the bottom by two points, so it’s quite a big change in terms of revenue growth guidance. We are completely digital from the inside. In the last quarter, we have been rated as leader in 11 services related capabilities across Digital Pentagon areas by industry analysts. Narayana Murthy … Large pipeline remained strong as clients look at accelerating digital transformation programs and continuing their focus on automation and cost efficiency. Many of these, like I said, will not be sustainable. Pravin Rao — Chief Operating Officer and Whole-Time Director. Is there anything different in terms of the historical mixes? I think this was asked before, but maybe you can unpack this a bit more. Yeah, hi. Do you think pandemic has put cloud on a faster acceleration than even digital now and we will see those benefits going forward?And also, if you can finally answer on the attrition. That absolutely helps. And should that — if I mean one assume as a more sustainable band going forward or any thoughts on this could be welcome? About 3,000 were freshers, both in India and abroad. Cobalt has 200 industry templates and 14,000 cloud components available to our clients for their cloud choice programs. Wish you all the best for the rest of the year. Firstly, while you have upgraded guidance, the second half implied guidance doesn’t look that strong, largely in line with the seasonality despite such strong deal wins, and there is a little bit contribution hopefully from the acquisitions as well. Okay. Salil Parekh — Chief Executive Officer and Managing Director. Infosys Q2 result highlights: Infosys has declared interim dividend of Rs 7 per share. Check earnings, profits and other financial details of India's second-biggest software firm Infosys Ltd, India's second-biggest software firm, on Wednesday reported a 20.5% rise to Rs 4,845 cr in September-quarter profit, helped by growth in client demand for its new-age digital services such as cloud, data and analytics during the pandemic. How has that trended so far? There are different things that have opened up as we’ve all learned from both the clients and us through the course of the last six months. The company also informed that the record date of the divided will be Monday, 26th October, 2020, this means if any investor would like to receive the announced dividend, the investor require to purchase the stock of the company at least two working days prior to the record date.The dividend will be credited to the accounts of share holders on or after Wednesday, 11th November, 2020. In terms of how are the clients funding it. So I don’t see that there is some sort of a ceiling there. We increased our operating margin guidance for the full year from 21% to 23%, moving it to 23% to 24% for the full year. And the third, we are seeing some in the pipeline which is on consolidation, vendor consolidation where its benefits we will see over the next few quarters in terms of conversions. Just as a follow-up to that. Salil, first a clarification. And of course, a lot of it in our business, as you know well, is the steady execution, a continuous sort of traction to that. Of course, it’s a possibility. In the past 12 months, Infosys Ltd. has declared an equity dividend amounting to Rs 21.50 per share. This transcript is produced by AlphaStreet, Inc. 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It has been the most critical element in serving our clients. Privacy Policy. Onsite offshore effort mix improved by 190 bps to 26.1%, the lowest ever. The types of things we are seeing in our deal pipeline and what we’ve closed, essentially three areas. On Friday, Infosys Ltd reported a 2.2 percent drop in consolidated net profit on a year-on-year basis at Rs 4,019 crore for the second quarter of the financial year 2019-20. I think what is also critical is as we see more and more growth that’s going on which relates to experience and how design is working through some of our digital studios, we see some of that work also expanding, and that work has benefits from having some proximity and this can also be done from an offshore perspective. Sure. Please go ahead. And second is the underlying secular trend, which in a delay as we were discussing earlier, the cloud part of digital is on a rate growth in terms of the market, in terms of what clients are doing, in terms of what the large partners of ours are doing. Infosys Limited, Inc. (INFY) CEO Salil Parekh on Q2 2019 Results - Earnings Call Transcript Oct. 16, 2018 Infosys Limited, Inc. (INFY) CEO Salil Parekh on Q1 2019 Results - Earnings Call Transcript This is Pravin here. Infosys Limited NSE Symbol:INFY, BSE Security Code:500209 informed the stock exchange, that the Board of Directors of the company have declared an interim 240.00% dividend of Rs.12.00 per equity share of face value of Rs.5.00 for the fiscal year 2020-21. And clearly, we see that coming back and it will start impacting the margins. Any natural barriers to that moving higher which is a significant enhancement of margin? Today, I think one person’s conservatism is another person’s regression. 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