Stay updated with breaking news from Sashi mukundan. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
bp appoints Kartikeya Dube as Head of Country-India region - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
In the last 20 plus years that he has spent with BP, Dube held senior roles in finance, commercial and business transformation in India, Singapore and the UK. Last year, he took the role of vice president, group investor relations in BP's head office in London driving investor engagement.
bp to establish new tech and engineering centre in Pune, appoints Molyama Kromah as the Head financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Bharat Petroleum Updates: BP said it "plans to set up BP Technical Solutions India (bp TSI) - a major new centre for its global technical and engineering expertise - in Pune, India. The BP-owned and operated centre will build on BP's existing engineering and technical strengths to deliver high quality services to its hydrocarbons and new energy businesses worldwide."
Bengaluru (Karnataka) [India], April 14 (ANI/PRNewswire): Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, delivered USD 18.2 billion in FY23 revenues with industry-leading growth of 15.4 per cent in constant currency and operating margins of 21.0 per cent. Growth was broad-based across industry verticals and geographical regions. Digital comprised 62.2 per cent of overall revenues and grew at 25.6 per cent in constant currency.
IT outsourcing giant Infosys delivered growth of 11.7 per cent to reach $18.2bn in FY23 revenues with operating margins dropping from 22 per cent in 2022 to 21 per...
Revenue growth guidance of 4%-7% and operating margin guidance of 20%-22% for FY24 BENGALURU, India, April 13, 2023 /PRNewswire/ -- Infosys , a global leader in next-generation digital... | June 19, 2023
Revenue growth guidance of 4%-7% and operating margin guidance of 20%-22% for FY24 BENGALURU, India, April 13, 2023 /PRNewswire/ --Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, delivered $18.2 billion in FY23 revenues with industry-leading growth of 15.4% in constant currency and operating margins of 21.0%. Growth was broad-based across industry verticals and geographical regions. Digital comprised 62.2% of overall revenues and grew at 25.6% in constant currency. Q4 year on year growth was 8.8% and sequential decline was 3.2% in constant currency terms. Operating margin for the quarter was 21.0%. Free cash flow conversion was 95.7% for Q4. Continuing the recent trend, attrition declined further in Q4. "Our strong performance in FY23 is a testimony to the continued focus on digital, cloud and automation capabilities which resonated with our clients. We have launched exciting programs with our clients leveraging generative AI platforms," said Salil Parekh, CEO and MD. "As the environment has changed, we see strong interest from our clients for efficiency, cost and consolidation opportunities, resulting in a strong large deal pipeline. We have expanded our internal program on efficiency and cost to build a path to higher margins in the medium term. We continue to invest in our people and in supporting our clients," he added. 15.0% YoY 25.6 % FY CC Digital growth 8.8% YoY 15.4% FY CC Revenue growth 21.0% Q4 21.0 % FY Operating margin ( $ terms) 9.0% YoY 9.7% FY Increase in EPS ( terms) $2.1 bn Q4 $9.8 bn FY Large deal TCV Guidance for FY24: Revenue growth of 4%-7% in constant currency Operating margin of 20%-22% 1. Key highlights: For the quarter ended March 31, 2023 Revenues in CC terms grew by 8.8% YoY and declined by 3.2% QoQ Reported revenues at $4,554 million, growth of 6.4% YoY Digital revenues at 62.9% of total revenues, YoY CC growth of 15.0% Operating margin at 21.0%, decline of 0.5% YoY and QoQ Basic EPS at $0.18, growth of 0.2% YoY FCF at $713 million, decline of 6.3% YoY; FCFconversion at 95.7% of net profit For the year ended March 31, 2023 Revenues in CC terms grew by 15.4% YoY Reported revenues at $18,212 million, growth of 11.7% YoY Digital revenues at 62.2% of total revenues, YoY CC growth of 25.6% Operating margin at 21.0%, decline of 2.0% YoY Basic EPS at $0.71, growth of 1.3% YoY FCF at $2,534 million, decline of 17.1% YoY; FCF conversion at 85.0% of net profit "Our continued focus on cost optimization and operational efficiencies have helped in achieving operating margins of 21.0% in FY23", said Nilanjan Roy, Chief Financial Officer. "Free cash generation in Q4, led by robust collections, was strong. Executing on our capital allocation policy, we successfully completed the share buyback and have proposed a final dividend of `17.50 for FY23", he added. 2. Capital Allocation For FY23, the Board has recommended a final dividend of 17.50 per share ($0.21 per ADS*). Together with the interim dividend of 16.50 per share already paid, the total dividend per share for FY23 will amount to 34.00 (app. $0.41 per ADS*) which is a 9.7% increase over FY22. With this, the company has announced total dividend of approx. 14,200 crore (approx. $1.7 billion*) for FY23. The company has completed the open market share buyback on February 13, at an average price of approx. 1,539 per share (compared to maximum Buyback Price of 1,850 per share). Consequently, the share capital of the company has reduced by 1.44%. Including the recently concluded buyback and final dividend for FY23, the company has returned approx. 86% of Free Cash Flow to shareholders under the current capital allocation policy. *USD-INR rate of 82.00 3. Client wins & Testimonials Infosys and bp collaborated to create 'Energy-as-a-Service' offering for holistic energy management that can enable energy savings, cost reduction, decarbonization and supply reliability. Sashi Mukundan, President, bp India and Senior Vice President, bp Group, said, "bp and Infosys have brought together their complementary capabilities, products, and services to create an integrated Energy-as-a-Service offering. This strategic collaboration builds on our energy transition goals where we can deliver secure, affordable, lower carbon energy the world increasingly needs, managed by AI/ML based digital platform to drive energy efficiency. With this engagement, we will aim to support our customers in achieving their sustainability goals faster." Infosys extended its collaboration with Microsoft to accelerate industry adoption of cloud. Anant Maheshwari, President, Microsoft India, said, "This engagement with Infosys extends our trusted relationship over the past two decades and will accelerate the innovation and transformation journeys of businesses worldwide. As we continue to shape the future of the industry cloud, we are pleased to bring together our complementary strengths and serve our strategic customers better through Microsoft Azure-powered solutions with Infosys Cobalt." Infosys rolled out its Private 5G-as-a-Service to accelerate business value for its enterprise clients worldwide. Mark Colaluca, Vice President/GM, Communication Technology Group, HPE, said, "Enterprises see Private 5G as an enabler for their digital transformation, and the Infosys approach of vertically aligned pre-integrated business solutions can accelerate 5G adoption. HPE and Infosys are working together by combining HPE's Private 5G solutions with Infosys as-a-Service offering and pre-integrated vertical use-cases for faster customer value realization." Infosys collaborated with ZF Friedrichshafen AG to revamp their multi-echelon supply chain with SAP Integrated Business Planning and Infosys Cobalt. Rainer Scheuring, Vice President IT AC Market and Materials Management, ZF Friedrichshafen AG, said, "Based on the holistic IBP planning approach and the guidance of our implementation partner Infosys, we built the foundation for improved availabilities and reduced inventories within our multi-echelon supply chain." Infosys Finacle implemented the Infosys Finacle Liquidity Management Solution for ABN AMRO's corporate customers, to empower them with a wide range of services to better identify, manage, and enhance liquidity positions on the go. Xander van Heeringen, Director of Transaction Banking, ABN AMRO, said, "We are excited to announce this collaboration with Infosys Finacle, the market-leading provider of banking technology. The right technology investment for corporate banking customers is of great importance to ABN AMRO as smarter cash management is evolving as a key priority for our customers, pushing the need for driving resilience in treasury operations. Together with Infosys Finacle, we will further enable ABN AMRO to propel with its liquidity management business transformation." United Nations Development Programme (UNDP) collaborated with Infosys Public Services (IPS) to deploy UNDP's Quantum Global Digital Management System to provide a unified and seamless platform for all UNDP business functions. Sylvain St-Pierre, Chief Information Officer, UNDP, said, "Digital technology will allow us to rapidly evolve with the ever-changing development needs of people and our planet. Our previous systems were difficult to change and often made it challenging to adapt to changing global development needs and world events. This new digital core represents a quantum leap forward that enables UNDP with a modernized, integrated platform, allowing for truly transformative digital capabilities combined with a first-rate digital user experience. Quantum, our new digital corporate management system implemented with Infosys Public Services, underpins a #FutureSmart UNDP that leaves no one behind." Infosys collaborated with GE Digital to accelerate grid transformation for the utilities sector. Together, GE Digital and Infosys will follow a joint go-to-market approach to deliver value added solutions for grid related products and services, for their