2024-04-18 12:48:01 ET
Infosys Limited (INFY)
Q4 2024 Earnings Conference Call
April 18, 2024, 08:30 AM ET
Company Participants
Sandeep Mahindroo - Head of IR
Salil Parekh - CEO and MD
Jayesh Sanghrajka - CFO
Conference Call Participants
Moshe Katri - Wedbush Securities
Ankur Rudra - JPMorgan Chase & Company
Kawaljeet Saluja - Kotak
Kumar Rakesh - BNP Paribas
Keith Bachman - Bank of Montreal
Gaurav Rateria - Morgan Stanley
Bryan Bergin - TD Cowen
Ashwin Mehta - Ambit Capital
Sandeep Shah - Equirus Securities
Vibhor Singhal - Nuvama Equities
Surendra Goyal - Citigroup
Nitin Padmanabhan - Investec
Prashant Kothari - Pictet Asset Management
Presentation
Operator
Ladies and gentlemen, good day, and welcome to Infosys Limited Earnings Conference Call. [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 Q4 and FY '24. Joining us on this call is CEO and 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 we'll open up the call for questions.
Kindly note that anything we say that refers to our outlook for the future is a forward-looking statement, which must be read in conjunction with the risks that the company faces. A complete 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.
For the financial year '24, our revenue growth was at 1.4% in constant currency terms, our operating margin for the full year was 20.7%. For large deals, we had an excellent year and the fourth quarter. For the full year, we were at $17.7 billion in large deals, comprising of 90 deals. For Q4, we had $4.5 billion in large deals. This is the highest ever large deal value in the financial year for us. This is a reflection of the trust our clients have in us. We see good traction in cost efficiency and consolidation deals.
For Q4, our year-on-year revenue growth was flat in constant currency and declined by 2.2% quarter on quarter. Our operating margin for Q4 was 20.1%. We had a one-time impact in Q4 that Jayesh will comment on.
We're seeing excellent traction with our clients for generative AI work. We're working on projects across software engineering, process optimization, customer support, advisory services and sales and marketing areas. We're working with all market-leading open access and closed large language models.
As an example, in software development, we've generated over 3 million lines of code using one of generative AI large language models. In several situations, we've trained the large language models with client specific data within our projects. We've embedded generative AI in our services and developed playbooks for each of our offerings....
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Infosys Limited (INFY) Q4 2024 Earnings Call Transcript