On July 30, 2024, Infosys, a global leader in digital services and consulting, announced via a stock exchange filing that it has partnered with TDC Net, a Danish digital infrastructure and connectivity provider.
The goal is to help TDC Net transition from a traditional infrastructure company to a technology-focused, customer-centric organization. Infosys will modernise TDC Net’s IT infrastructure, enhance customer experience, and reduce IT and operational service costs. The collaboration involves using AI-driven hyper-automation to simplify and standardise TDC Net’s IT systems, improving business productivity by consolidating systems onto fewer platforms.
Campbell Fraser, CTIO of TDC Net, said, “At TDC Net, we are committed to delivering exceptional value to our customers through a transformation in our IT landscape. Our collaboration with Infosys will enable us to leverage industry-standard processes and platforms to create better customer experiences. Infosys’ deep expertise in the telecommunications domain and its proven capabilities in driving end-to-end transformations give us confidence in achieving our goals. This collaboration represents a significant milestone in our journey towards becoming a fully digital and customer-centric technology company.”
In Q1 results, Infosys reported a 3.64% increase in revenue and a 7.12% rise in profit compared to the same period last year. Quarter-over-quarter, revenue grew by 3.67%, while profit fell by 20.09%. Operating income rose by 8.75% quarter-over-quarter and 5.03% year-over-year. The Earnings Per Share (EPS) for Q1 was ₹15.35, up 5.78% year-over-year.
The company achieved a record number of large deal wins at 34, valued at $4.1 billion, with 57.6% being new deals. Free cash flow (FCF) rose by 59.2% year-on-year to ₹9,155 crore, with FCF conversion at 143.2% of net profit.
Infosys is a global leader in digital services and consulting, with over 300,000 employees. It helps clients in over 56 countries with their digital transformation. Its AI-first approach and agile digital solutions drive continuous improvement, supported by always-on learning and digital skills transfer from its innovation ecosystem.
On July 30, 2024, the share price of Infosys Limited opened at ₹1,871.10 and closed at ₹1,875.20 on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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