Company: INFY
Filing Date: 2025-07-01
Form Type: 20-F
Source: 0000950170-25-091925
Chunk: 89

Company: Infosys Ltd
Filing Date: 2025-07-01
Form: 20-F
Item: Item 5
Chunk 89
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 report the revenue growth in constant currency terms which represents the real growth in

revenue excluding the impact of currency fluctuations. We calculate constant currency growth by comparing current period revenues in respective local currencies converted to US$ using prior-period exchange rates and comparing the same to our prior period reported revenues. Our revenues in reported currency terms for fiscal 2025 is $19,277 million, a growth of 3.9% in comparison to fiscal 2024. As against this, our revenues in constant currency terms for fiscal 2025 grew by 4.2% in comparison to fiscal 2024.
The following table sets forth our business segment profit (revenues less identifiable operating expenses and allocated expenses) as a percentage of business segment revenue for fiscal 2025 and fiscal 2024 (see Note 2.21.1, under Item 18 of this Annual Report on Form 20-F for additional information):

Business Segments                                             Business segment profit %    
                                              Fiscal 2025                   Fiscal 2024    
Financial Services                                   24.6      %                   22.1   %
Retail                                               32.3      %                   30.6   %
Communication                                        17.5      %                   20.5   %
Energy, Utilities, Resources and Services            28.1      %                   27.5   %
Manufacturing                                        19.3      %                   18.9   %
Hi-Tech                                              24.6      %                   25.3   %
Life Sciences                                        22.5      %                   25.2   %
All other Segments                                   17.2      %                   16.0   %
Overall segment profitability has increased primarily on account of an increase in foreign currency translation benefits, a benefit from Project Maximus arising from Value Based Selling (VBS) and Lean & Automation, improved utilization, and insurance claim pertaining to fiscal 2024, partially offset by higher employee compensation, higher cost of third-party items bought for service delivery to clients and acquisition impact.

Financial service profitability was higher in fiscal 2025 mainly on account of improved margins in large deals and insurance claim pertaining to fiscal 2024.

Retail profitability was higher in fiscal 2025 mainly on account of higher realization in pricing and lower cost of third-party items bought for service delivery to clients as part of deals.

Communication profitability was lower in fiscal 2025 mainly due to ramp up of large deals and higher cost of technical sub-contractors. Large deals typically have lower margins in