Infosys reports $4.5 bn in Q4, sets a record-breaking annual TCV of $17.7 bn

Infosys, the second-biggest IT services provider in India, announced on April 18 that its FY24 total contract value (TCV), or $17.7 billion, was the most it has ever been for a big transaction. Of this amount, 52% was net new.

During the fourth quarter that concluded on March 31, 2024, the corporation reported $4.5 billion in big TCV deals. In the December quarter, the corporation won big TCV valued at $3.2 billion. In FY23, the Bengaluru-based company secured a $9.8 billion major TCV.

Geographically speaking, North America fell 2.2% YoY in constant currency (CC) terms. In Q4FY24, North America’s share was 59.6%, down from 61 percent during the same period the previous year. Europe rose by 4.9 percent in CC terms for the quarter, contributing about thirty percent of total revenue. Europe presently accounts for 28.6% of total revenue.

Global growth in CC terms was 4.5% YoY for the rest of the globe, or 9.6%. Financial services saw an 8.5 percent YoY fall in CC terms during the fourth quarter of the business.The greatest vertical at Infosys, with over 26% of the market in Q4FY24, is financial services.