Infosys has announced results for Q1 FY23, for the period ending June 30, 2022:

• Revenues were $4,444m, up 17.5% y/y, up 21.4% in CC
• Operating income (EBIT) was $888m, a margin of 20.0%, down 3.7 pts y/y.

Q1 FY23 estimated revenue by geography (with reported and CC  y/y growth in US$) was:

• North America $2,747m (+17.7%, +18.4% CC) 
• Europe $1,114m (+22.0%, +33.2% CC)
• India $114m (+2.7%, +5.8% CC
• Rest of World $469m (+10.4%, +17.8% CC).

Q1 FY23 revenue by service type (with reported and CC  y/y growth in US$) was:

• Digital $2,710m (+32.8%, +37.5% in CC). Digital accounted for 61.0% of global revenue
• Core $1,734m, (-0.5%, +2.4% in CC)

Q1 FY23 revenue mix by industry (with approx revenue and reported and CC y/y growth in US$) was:

• Financial Services 30.6% ($1,362m, +9.0%, + 12.1% CC)
• Retail 14.5% ($645m, +14.0%, +17.8% CC)
• Communication 13.0% ($576, +24.7%, +30.0% CC)
• EURS 12.4% ($549m, +20.1%, +24.6% CC)
• Manufacturing 12.1% ($537m, +46.7%, +55.2% CC)
• Hi Tech 8.2% ($363m, +16.0%, +16.4% CC)
• Life Sciences 6.5% ($291m, +13.7%, +15.8% CC)
• Others 2.7% ($121m +15.4%, +21.4% CC).

Infosys had 1,778 active clients at the end of Q1 FY23, with 119 new clients added during the quarter.

Major client contribution to revenue (and in Q4 FY22) was:

• Top 5 clients 13.0% (11.8%)
• Top 10 clients 20.8% (19.4%).

Headcount at the end of the quarter was 335,186, a net y/y increase of 21,171, or 17.1%.

Annualized attrition was 28.4%, up from 13.9% in the prior year period, and up from the 27.7% reported in Q4 FY22.