Infosys Financials Explained: Revenue, Margins and Returns

Infosys is the second largest IT services company in India by revenue, with a financial profile built on consistent growth, healthy operating margins, and strong returns on capital. This overview presents those figures as reported in the company’s filings, as of the publication date.

Revenue growth

Infosys has expanded revenue steadily over the last five years, supported by digital services demand and large deal wins. The chart below shows reported consolidated revenue by financial year.

Source: Infosys annual reports. Figures rounded to the nearest crore.

The pace of growth was strongest in the middle of this period, when digital transformation spending accelerated across the industry, and moderated more recently as the broader technology cycle cooled.

Margins

Infosys reports operating margins in the low twenties percent range, healthy for the sector though typically a little below the largest peer. Margins here are driven by employee costs, utilisation, the onsite to offshore mix, pricing, and currency. As with any services business, the margin trend is best read alongside revenue growth and headcount.

Returns

The company has reported a strong return on equity, helped by an asset light model and a consistent capital return policy through dividends and buybacks. A high and stable return on equity suggests capital is being deployed efficiently, but it should be read together with the company’s cash position and payout history.

How to read these numbers

• Follow the multi year trend rather than a single quarter.
• Read margins and returns together with revenue, since the quality of growth matters as much as its rate.
• Note the date, since figures reflect filings available as of publication and can change with later disclosures or restatements.

This is a factual snapshot and not a view on the stock. For the exact as reported figures, refer to the company’s official filings.