6-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934

For the month of January 2023

Commission File Number 001-35754

Infosys Limited

(Exact name of Registrant as specified in its charter)

Not Applicable.

(Translation of Registrant's name into English)

Electronics City, Hosur Road, Bengaluru - 560 100, Karnataka, India. +91-80-2852-0261

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:

Form 20-F þ Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

TABLE OF CONTENTS

EXHIBIT 99.1

EXHIBIT 99.2

EXHIBIT 99.3

EXHIBIT 99.4

DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION

Infosys Limited (“we” or “the Company”) hereby furnishes the United States Securities and Exchange Commission with copies of the following information concerning our public disclosures regarding our results of operations and financial condition for the quarter ended December 31, 2022.

The following information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

On January 12, 2023, we announced our results of operations for the quarter ended December 31, 2022. A copy of the outcome of the board meeting is attached to this Form 6-K as Exhibit 99.1.

We issued press releases announcing our results under International Financial Reporting Standards ("IFRS"), copies of which are attached to this Form 6-K as Exhibit 99.2.

We have placed the form of release to stock exchanges concerning our results of operations for the quarter ended December 31, 2022 under Indian Accounting Standards (Ind-AS). A copy of the release to stock exchanges is attached to this Form 6-K as Exhibit 99.3.

The Board of Directors of the Company, based on the recommendation of the Nomination and Remuneration Committee, considered and approved the appointment of Govind Vaidiram Iyer (DIN - 00169343), as an additional & independent director effective January 12, 2023 for a period of 5 (Five) years, subject to the approval of shareholders. In this regard, a press release including his brief profile is attached to this Form 6-K as Exhibit 99.4

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Infosys Limited
Date: January 12, 2023	Inderpreet Sawhney General Counsel and Chief Compliance Officer

INDEX TO EXHIBITS

Exhibit No.	Description of Document
99.1	Outcome of the Board Meeting
99.2	IFRS USD press release
99.3	Form of Release to Stock Exchanges
99.4	Press Release

EX-99.1 CHARTER

 Exhibit 99.1
Outcome of the Board meeting

EX-99.2 BYLAWS

 Exhibit 99.2
IFRS USD Press Release

Strong growth of 13.7% in constant currency in a seasonally weak quarter

Strongest large deal wins in the last 8 quarters at $3.3 billion

Revenue guidance for FY23 revised to 16.0%-16.5%

Bengaluru, India – January 12, 2023: Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, reported strong Q3 performance with year-on-year growth at 13.7% and sequential growth at 2.4% in constant currency. Year on year growth was in double digits for most business segments and geographical regions in constant currency terms. Large deal TCV for the quarter was the strongest in the last 8 quarters at $3.3 billion. Digital comprised 62.9% of overall revenues and grew at 21.7% in constant currency. Operating margin for the quarter remained resilient at 21.5%. FY23 revenue guidance revised to 16.0%-16.5%. FY23 operating margin guidance retained at 21%-22%.

“Our revenue growth was strong in the quarter, with both digital business and core services growing. This is a clear reflection of our deep client relevance, industry-leading digital, cloud, and automation capabilities, and the unrelenting dedication of our employees”, said Salil Parekh, CEO and MD. “As reflected in the large deals momentum, we continue to gain market share as a trusted transformation and operational partner for our clients. Our end-to-end capabilities and global scale make us a preferred choice as clients look at consolidating vendors. We remain focused on helping businesses accelerate their digital agenda to uncover new value and growth, as well as improve operational and cost effectiveness”, he added.

1. Key highlights:

For the quarter ended December 31, 2022	For nine months ended December 31, 2022
·Revenues in CC terms grew by 13.7% YoY and 2.4% QoQ ·Reported revenues at $4,659 million, growth of 9.6% YoY ·Digital revenues at 62.9% of total revenues, YoY CC growth of 21.7% ·Operating margin at 21.5%, decline of 2.0% YoY and stable QoQ ·Basic EPS at $0.19, growth of 3.3% YoY ·FCF at $576 million, decline of 19.9% YoY; FCF conversion at 72.0% of net profit	·Revenues in CC terms grew by 17.8% YoY ·Reported revenues at $13,657 million, growth of 13.5% YoY ·Digital revenues at 61.9% of total revenues, YoY CC growth of 29.5% ·Operating margin at 21.0%, decline of 2.6% YoY ·Basic EPS at $0.53, growth of 1.7% YoY ·FCF at $1,821 million, decline of 20.6% YoY; FCF conversion at 81.4% of net profit

“Operating margins in Q3 remained resilient due to cost optimization benefits which offset the impact of seasonal weakness in operating parameters”, said Nilanjan Roy, Chief Financial Officer. “Attrition reduced meaningfully during the quarter and is expected to decline further in the near-term”, he added.

2. Capital Allocation

Pursuant to the Board recommendation and subsequent to shareholders’ approval through postal ballot, the company has started share buyback program through open market route from December 7, 2022 and till date, has bought back 31.3 million shares worth 4,790 crore (app. $0.6 billion*) or 51.5% of total authorization of 9,300 crore at an average price of approx. 1,531 per share (compared to maximum Buyback Price of 1,850 per share).

*USD-INR rate of 82.00

3. Client wins & Testimonials

• Centric Brands has selected Infosys to be a strategic technology partner to provide a range of digital, IT, business operations and transformation services. Infosys will leverage its cognitive first IT framework along with its industry leading digital, cognitive AI, cloud and retail industry solution accelerators to improve and transform the technology landscape. Anurup Pruthi, Global CFO, Centric Brands, said, “By partnering with Infosys, we will be able to standardize our internal processes, bring in the best practices and tools, and strengthen the skills needed for continued success in the Retail B2B marketplace.”

• Infosys helped develop a cloud-based platform to digitize and automate manual processes at Envision AESC, a world-leading battery technology company’s Electric Vehicle (EV) battery manufacturing plants. “At Envision AESC, we believe that advancements in battery technology will propel the EV revolution to newer heights. The manufacturing processes of our breakthrough batteries need a robust digital foundation to accelerate the speed and scale of innovation. We are confident that Infosys, with their trusted cloud technologies and deep expertise in the automotive industry, will help us continue on our journey towards achieving our transformation goals,” said, Brian Sullivan, Executive Vice President of Global Manufacturing and Supply Chain at Envision AESC.

• Infosys and Microsoft modernized Spark New Zealand’s corporate functions to enhance business resilience, operational simplicity, workplace agility, and customer experience. Mark Beder, Chief Operating Officer, Spark, said, “As we embarked on a journey to revamp our business operations and step out of our legacy systems, we were looking for partners that understand and provide strength to our vision for an ERP-driven business transformation. It has been great working with Infosys and Microsoft as our transformation partners. The level of ERP implementation expertise and scale they bring to the table in this endeavor underpinned by best-fit digital solutions and resources is helping us to unshackle legacy system constraints and will help us improve operational simplicity, workplace agility and customer experience.”

• Infosys collaborated with CIRCOR, one of the world’s leading providers of mission critical flow control products and services for the Industrial, Aerospace & Defense markets, to help transform its IT landscape and modernize its IT infrastructure. Pete Sattler, Chief Information Officer, CIRCOR, said, “The goal of our alliance with Infosys is to offer all our customers – both internal and external – faster and more reliable service, enhance our cybersecurity, and provide 24x7 monitoring for our global IT environment.”

• Avon, part of Natura Group, entered a five-year strategic collaboration with Infosys to advance its digital transformation journey, implement cognitive operations, drive continuous innovation, and help in better serving its customers. Karen McElhatton, CIO, Avon, said, “Through this collaboration, Infosys will accelerate the realization of our Digital vision, through a well-planned transformation roadmap to reduce opex spends, increase resilience and reliability of our application landscape, and prepare us better for new digital capabilities. We are confident that Infosys, with its sound expertise in Infrastructure Management Services, Cybersecurity, and Application Services, will enable us to continue to provide cutting-edge services to our members and customers.”

• Conagra has entered into a five-year strategic partnership with Infosys to innovate its IT operations. Conagra and Infosys will be implementing product based cognitive-first delivery model, with focus on improving operational excellence, drive continuous innovation, and most importantly improve the quality of service for Conagra’s customers. Andy Xydakis, CTO, Conagra, said, “We wanted to change the way we run our IT operations. Delivering in true agile fashion where teams focus on value delivery. Our partnership with Infosys will help achieve the vision, given their deep Industry knowledge and ability to align this new way of working to support our overarching business strategy. Through this collaboration, Infosys will help accelerate the adoption of our product based continuous delivery operating model, by creating capacity to deliver features, increase resiliency and reliability of our infrastructure and application landscape, thereby helping Conagra advance new digital capabilities.”

4. Recognitions

• Infosys received the Great Place to Work® Certification across five regions including India, Australia, United Kingdom, Germany, and Mexico. Infosys BPM received the Great Place to Work® Certification in Philippines

• Infosys recognized as the Champion of Inclusion in the Most Inclusive Companies Index (MICI) and featured in the “100 Best – Hall of Fame” by Avtar & Seramount, 2022

• Infosys secured a place in CDP’s annual ‘A List’ for its leadership in corporate transparency and performance on climate change

• Infosys rated as “Most Noteworthy” Company by DiversityInc, USA

• Infosys recognized as a constituent of the Dow Jones Sustainability World Index for 2022

• Infosys InStep Ranked as the ‘Best Internship Program’ in the 2023 Vault Internship Rankings

• Infosys won the 2022 Marketing Excellence Gold Award from Information Technology Services Marketing Association (ITSMA) for Infosys Cobalt

• Infosys, along with client Lanxess recognized as a winner in the “Workplace of the Future” category in 2022 ISG Paragon Awards™ EMEA

• Infosys positioned as a leader in Gartner Magic Quadrant for IT Services for Communications Service Providers, Worldwide

• Infosys recognized as a leader in Forrester Wave™: Cloud Migration and Managed Service Partners in Asia Pacific, Q4 2022

• Infosys positioned as a leader in IDC MarketScape: Asia/Pacific Salesforce Implementation Services 2022 Vendor Assessment

• Infosys recognized as a leader in Software Product Engineering Services PEAK Matrix® Assessment 2023 by Everest

• Infosys recognized as a leader in System Integration (SI) Capabilities on Google Cloud Platform (GCP) PEAK Matrix® Assessment 2022 by Everest

• Infosys recognized as a leader in HFS Horizons: Cloud Native Transformation, 2022

• Infosys ranked as a leader in Next-Gen ADM Services 2022 ISG Provider lens™ study in US

• Infosys positioned as a leader in IDC Worldwide Manufacturing Service Life-Cycle Management Strategic Consulting 2022

• Infosys recognized as a leader in Workplace Communication and Collaboration (WCC) Services PEAK Matrix® Assessment 2023 by Everest

• Infosys positioned as a leader in IDC MarketScape: EMEA Industrial Internet of Things Service Providers for Oil and Gas Companies 2022 Vendor Assessment

• Infosys recognized as a leader in Application and Digital Services (ADS) in Property & Casualty (P&C) Insurance PEAK Matrix® Assessment 2023 by Everest

• Infosys recognized as a leader in Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023 by Everest

• Infosys positioned as a leader in Avasant’s Utilities Digital Services 2022–2023 RadarView^TM

• Infosys positioned as a leader in Avasant’s Manufacturing Digital Services 2022–2023 RadarView^TM

• Infosys Finacle positioned as a Leader in The Everest Group PEAK Matrix® for Wealth Management Products Provider 2023 report

• Infosys BPM ranked as Leader and Star Performer in Everest Group’s Finance and Accounting Outsourcing (FAO) PEAK Matrix® Assessment 2022

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, in more than 50 countries, as they navigate their digital transformation powered by the cloud. We enable them with an AI-powered core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace. Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

This Release contains ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and that are based on our current expectations, assumptions, estimates and projections about the Company, our industry, economic conditions in the markets in which we operate, and certain other matters. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as ‘may’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘continue’, ‘intend’, ‘will’, ‘project’, ‘seek’, ‘could’, ‘would’, ‘should’ and similar expressions. Those statements include, among other things, statements regarding our business strategy, our expectations concerning our market position, future operations, growth, margins, profitability, attrition, liquidity, and capital resources, our ESG vision, our capital allocation policy, the effects of COVID-19 on global economic conditions and our business and operations, wage increases, change in the regulations including immigration regulation and policies in the United States, and corporate actions including timely completion of the proposed buy-back of our equity shares. These statements are subject to known and unknown risks, uncertainties and other factors which may cause actual results or outcomes to differ materially from those implied by the forward-looking statements. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2022. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

Contact

Investor Relations	Sandeep Mahindroo +91 80 3980 1018 Sandeep_Mahindroo@infosys.com
Media Relations	Rishi Basu +91 80 4156 3998 Rajarshi.Basu@infosys.com	Mary-Ellen Harn +1 704 359 7996 maryellen.harn@infosys.com

Infosys Limited and subsidiaries

Extracted from the Condensed Consolidated Balance Sheet under IFRS as at:

(Dollars in millions)

	December 31, 2022	March 31, 2022
ASSETS
Current assets
Cash and cash equivalents	1,401	2,305
Current investments	1,055	880
Trade receivables	3,343	2,995
Unbilled revenue	1,588	1,526
Other Current assets	1,366	1,159
Total current assets	8,753	8,865
Non-current assets
Property, plant and equipment and Right-of-use assets	2,405	2,429
Goodwill and other Intangible assets	1,098	1,042
Non-current investments	1,497	1,801
Unbilled revenue	206	124
Other non-current assets	1,267	1,294
Total non-current assets	6,473	6,690
Total assets	15,226	15,555
LIABILITIES AND EQUITY
Current liabilities
Trade payables	579	545
Unearned revenue	861	834
Employee benefit obligations	290	288
Other current liabilities and provisions	3,251	2,766
Total current liabilities	4,981	4,433
Non-current liabilities
Lease liabilities	795	607
Other non-current liabilities	424	521
Total non-current liabilities	1,219	1,128
Total liabilities	6,200	5,561
Total equity attributable to equity holders of the company	8,975	9,941
Non-controlling interests	51	53
Total equity	9,026	9,994
Total liabilities and equity	15,226	15,555

Extracted from the Condensed Consolidated Statement of Comprehensive Income under IFRS for:

(Dollars in millions except per equity share data)

	3 months ended December 31, 2022	3 months ended December 31, 2021	9 months ended December 31, 2022	9 months ended December 31, 2021
Revenues	4,659	4,250	13,657	12,031
Cost of sales	3,230	2,856	9,544	8,041
Gross profit	1,429	1,394	4,113	3,990
Operating expenses:
Selling and marketing expenses	196	177	574	513
Administrative expenses	232	219	671	642
Total operating expenses	428	396	1,245	1,155
Operating profit	1,001	998	2,868	2,835
Other income, net (3)	84	61	229	203
Profit before income taxes	1,085	1,059	3,097	3,038
Income tax expense	285	283	859	823
Net profit (before minority interest)	800	776	2,238	2,215
Net profit (after minority interest)	800	774	2,237	2,211
Basic EPS ($)	0.19	0.18	0.53	0.52
Diluted EPS ($)	0.19	0.18	0.53	0.52

NOTES:

1. The above information is extracted from the audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the quarter and nine months ended December 31, 2022, which have been taken on record at the Board meeting held on January 12, 2023.

2. A Fact Sheet providing the operating metrics of the Company can be downloaded from www.infosys.com.

3. Other income is net of Finance Cost.

4. The quarter figures added up to the figures reported in previous quarters might not always add up to the nine months ended figures reported in this statement as all figures are taken from the source and rounded off to the nearest digits.

EX-99.3 VOTING TRUST

Exhibit 99.3
Form of Release to Stock Exchanges

Infosys Limited Regd. office: Electronics City, Hosur Road, Bengaluru – 560 100, India CIN : L85110KA1981PLC013115 Website: www.infosys.com email: investors@infosys.com T: 91 80 2852 0261, F: 91 80 2852 0362

Statement of Consolidated Audited Results of Infosys Limited and its subsidiaries for the quarter and nine months ended December 31, 2022 prepared in compliance with the Indian Accounting Standards (Ind-AS)

(in crore, except per equity share data)

Particulars	Quarter ended December 31,	Quarter ended September 30,	Quarter ended December 31,	Nine months ended December 31,		Year ended March 31,
	2022	2022	2021	2022	2021	2022
	Audited	Audited	Audited	Audited	Audited	Audited
Revenue from operations	38,318	36,538	31,867	109,326	89,365	121,641
Other income, net	769	584	512	2,030	1,658	2,295
Total Income	39,087	37,122	32,379	111,356	91,023	123,936
Expenses
Employee benefit expenses	20,272	19,438	16,355	58,048	47,328	63,986
Cost of technical sub-contractors	3,343	3,694	3,511	10,946	9,019	12,606
Travel expenses	360	363	221	1,099	518	827
Cost of software packages and others	3,085	2,512	1,861	8,017	4,543	6,811
Communication expenses	183	189	147	542	441	611
Consultancy and professional charges	401	439	520	1,296	1,364	1,885
Depreciation and amortisation expenses	1,125	1,029	899	3,104	2,586	3,476
Finance cost	80	66	53	202	150	200
Other expenses	1,307	1,001	869	3,246	2,507	3,424
Total expenses	30,156	28,731	24,436	86,500	68,456	93,826
Profit before tax	8,931	8,391	7,943	24,856	22,567	30,110
Tax expense:
Current tax	2,195	2,482	2,063	7,027	5,986	7,811
Deferred tax	150	(117)	58	(145)	130	153
Profit for the period	6,586	6,026	5,822	17,974	16,451	22,146
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss
Remeasurement of the net defined benefit liability/asset, net	29	40	(53)	(17)	(72)	(85)
Equity instruments through other comprehensive income, net	1	4	–	8	41	96
Items that will be reclassified subsequently to profit or loss
Fair value changes on derivatives designated as cash flow hedges, net	(57)	(12)	(7)	(43)	4	(8)
Exchange differences on translation of foreign operations	676	(14)	(33)	715	91	228
Fair value changes on investments, net	48	26	(77)	(298)	16	(49)
Total other comprehensive income/(loss), net of tax	697	44	(170)	365	80	182
Total comprehensive income for the period	7,283	6,070	5,652	18,339	16,531	22,328
Profit attributable to:
Owners of the company	6,586	6,021	5,809	17,967	16,425	22,110
Non-controlling interest	–	5	13	7	26	36
	6,586	6,026	5,822	17,974	16,451	22,146
Total comprehensive income attributable to:
Owners of the company	7,268	6,068	5,640	18,322	16,506	22,293
Non-controlling interest	15	2	12	17	25	35
	7,283	6,070	5,652	18,339	16,531	22,328
Paid up share capital (par value 5/- each, fully paid)	2,086	2,099	2,097	2,086	2,097	2,098
Other equity *#	73,252	73,252	74,227	73,252	74,227	73,252
Earnings per equity share (par value `5/- each)**
Basic ()	15.72	14.35	13.86	42.85	38.96	52.52
Diluted ()	15.70	14.34	13.83	42.79	38.88	52.41

* Balances for the quarter and nine months ended December 31, 2022 and quarter ended September 30, 2022 represents balances as per the audited Balance Sheet for the year ended March 31, 2022 and balances for the quarter and nine months ended December 31, 2021 represents balances as per the audited Balance Sheet for the year ended March 31, 2021 as required by SEBI (Listing and Other Disclosure Requirements) Regulations, 2015

** EPS is not annualized for the quarter and nine months ended December 31, 2022, quarter ended September 30, 2022 and quarter and nine months ended December 31, 2021.

^# Excludes non-controlling interest

1. Notes pertaining to the current quarter

a) The audited interim condensed consolidated financial statements for the quarter and nine months ended December 31, 2022 have been taken on record by the Board of Directors at its meeting held on January 12, 2023. The statutory auditors, Deloitte Haskins & Sells LLP have expressed an unmodified audit opinion. The information presented above is extracted from the audited interim condensed consolidated financial statements. These interim condensed consolidated financial statements are prepared in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules thereafter.

b) Appointment of Independent Director

Based on the recommendation of the Nomination and Remuneration Committee, the Board considered and approved the appointment of Govind Vaidiram Iyer (DIN - 00169343), as an Additional & Independent Director effective January 12, 2023 for a period of 5 (five) years, subject to the approval of shareholders.

c) Buyback of equity shares

The shareholders approved the proposal of buyback of Equity Shares recommended by its Board of Directors by way of e-voting on the postal ballot, the results of which were declared on December 3, 2022. At the Maximum buyback price of 1,850/- per equity share and the Maximum buyback size of 9,300 crore the indicative maximum number of equity shares bought back would be 50,270,270 Equity Shares (Maximum buyback shares) comprising approximately 1.19% of the paid-up equity share capital of the Company as of September 30, 2022 and as on December 5, 2022, the date of the Public Announcement for the buyback (on a standalone basis). The buyback was offered to all eligible equity shareholders of the Company (other than the Promoters, the Promoter Group and Persons in Control of the Company) under the open market route through the stock exchange. The Company will fund the buyback from its free reserves including Securities Premium as explained in Section 68 of the Companies Act, 2013. The buyback of equity shares through the stock exchange commenced on December 7, 2022 and is expected to be completed on or before June 6, 2023.

During the quarter ended December 31, 2022, 25,164,000 equity shares were purchased from the stock exchange which includes 3,170,000 shares which have been purchased but have not been settled and therefore not extinguished as of December 31, 2022. In accordance with section 69 of the Companies Act, 2013, during the quarter ended December 31, 2022, the Company has created ‘Capital Redemption Reserve’ of 11 crore equal to the nominal value of the shares bought back as an appropriation from general reserve and retained earnings. Subsequent to the quarter ended December 31, 2022, the Company additionally purchased 6,128,000 number of shares; total number of shares purchased till date is 31,292,000 amounting to 4,790 crore excluding transactions costs and buyback tax.

d) Update on employee stock grants

The Board, on January 12, 2023, based on the recommendations of the Nomination and Remuneration Committee, approved:

i) The annual time-based stock incentives in the form of Restricted Stock Units (RSUs) to Salil Parekh, CEO & MD having a market value of 3 crore as on the date of grant under the 2015 Stock Incentive Compensation Plan (2015 Plan) in accordance with the terms of his employment agreement. The RSUs will vest in line with the employment agreement. The RSUs will be granted w.e.f February 1, 2023 and the number of RSUs will be calculated based on the market price at the close of trading on February 1, 2023. The exercise price of RSUs will be equal to the par value of the share.

ii) The annual time-based RSUs to a KMP having a market value of 1.75 crore as on date of grant under 2015 plan, in accordance with the terms of his employment agreement. The RSUs will vest in line with the employment agreement. The RSUs will be granted w.e.f February 1, 2023 and the number of RSUs will be calculated based on the market price at the close of trading on February 1, 2023. The exercise price of RSUs will be equal to the par value of the share.

iii) The annual performance-based grant of RSUs to a KMP having a market value of 0.92 crore as on the date of grant under the 2015 plan. These RSUs will vest 12 months from the date of the grant based on the achievement of certain performance targets. The RSUs will be granted w.e.f February 1, 2023 and the number of RSUs will be calculated based on the market price at the close of trading on February 1, 2023. The exercise price of RSUs will be equal to the par value of the share.

iv) The grant of 11,39,550 RSUs under the 2015 Plan and grant of 21,40,000 PSUs under the Expanded Stock Ownership Program 2019 (2019 Plan) to eligible employees. The grants made under the 2015 Plan would vest over a period of four years and the grants made under the 2019 Plan would vest over a period of three years subject to Company’s achievement of performance parameters as defined in the 2019 Plan. The RSUs and PSUs will be granted w.e.f February 1, 2023 and the exercise price will be equal to the par value of the share.

e) We have initiated the closure of our branch in Moscow and this will be completed as per local regulations.

2. Information on dividends for the quarter and nine months ended December 31, 2022

The Board of Directors (in the meeting held on October 13, 2022) declared an interim dividend of 16.50/- per equity share. The record date for the payment was October 28, 2022 and the same was paid on November 10, 2022. The interim dividend declared in the previous year was 15/- per equity share

(in )

Particulars	Quarter ended December 31,	Quarter ended September 30,	Quarter ended December 31,	Nine months ended December 31,		Year ended March 31,
	2022	2022	2021	2022	2021	2022
Dividend per share (par value 5/- each)
Interim dividend	–	16.50	–	16.50	15.00	15.00
Final dividend	–	–	–	–	–	16.00

3. Segment reporting (Consolidated - Audited)

(in crore)

Particulars	Quarter ended December 31,	Quarter ended September 30,	Quarter ended December 31,	Nine months ended December 31,		Year ended March 31,
	2022	2022	2021	2022	2021	2022
Revenue by business segment
Financial Services (1)	11,235	11,148	10,023	32,945	28,805	38,902
Retail (2)	5,480	5,183	4,612	15,667	13,118	17,734
Communication (3)	4,710	4,501	3,979	13,675	11,050	15,182
Energy, Utilities, Resources and Services	4,957	4,498	3,740	13,714	10,611	14,484
Manufacturing	5,099	4,686	3,598	13,957	9,520	13,336
Hi-Tech	3,095	2,971	2,567	8,878	7,388	10,036
Life Sciences (4)	2,695	2,452	2,383	7,404	6,377	8,517
All other segments (5)	1,047	1,099	965	3,086	2,496	3,450
Total	38,318	36,538	31,867	109,326	89,365	121,641
Less: Inter-segment revenue	–	–	–	–	–	–
Net revenue from operations	38,318	36,538	31,867	109,326	89,365	121,641
Segment profit before tax, depreciation and non-controlling interests:
Financial Services (1)	2,678	2,811	2,734	8,243	7,736	10,314
Retail (2)	1,646	1,578	1,630	4,761	4,615	6,130
Communication (3)	1,042	965	963	2,801	2,486	3,372
Energy, Utilities, Resources and Services	1,457	1,251	1,075	3,853	3,113	4,225
Manufacturing	1,035	792	633	2,212	1,982	2,408
Hi-Tech	813	724	636	2,209	1,823	2,495
Life Sciences (4)	684	642	640	1,861	1,799	2,380
All other segments (5)	12	139	72	192	91	167
Total	9,367	8,902	8,383	26,132	23,645	31,491
Less: Other Unallocable expenditure	1,125	1,029	899	3,104	2,586	3,476
Add: Unallocable other income	769	584	512	2,030	1,658	2,295
Less: Finance cost	80	66	53	202	150	200
Profit before tax and non-controlling interests	8,931	8,391	7,943	24,856	22,567	30,110

⁽¹⁾ Financial Services include enterprises in Financial Services and Insurance

⁽²⁾ Retail includes enterprises in Retail, Consumer Packaged Goods and Logistics

⁽³⁾ Communication includes enterprises in Communication, Telecom OEM and Media

⁽⁴⁾ Life Sciences includes enterprises in Life sciences and Health care

⁽⁵⁾ All other segments include operating segments of businesses in India, Japan, China, Infosys Public Services & other enterprises in Public Services

Notes on segment information

Business segments

Based on the "management approach" as defined in Ind-AS 108 - Operating Segments, the Chief Operating Decision Maker evaluates the Group's performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along these business segments. The accounting principles used in the preparation of the financial statements are consistently applied to record revenue and expenditure in individual segments.

Segmental capital employed

Assets and liabilities used in the Group's business are not identified to any of the reportable segments, as these are used interchangeably between segments. The Management believes that it is not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.

4. Audited financial results of Infosys Limited (Standalone Information)

(in crore)

Particulars	Quarter ended December 31,	Quarter ended September 30,	Quarter ended December 31,	Nine months ended December 31,		Year ended March 31,
	2022	2022	2021	2022	2021	2022
Revenue from operations	32,389	31,567	27,337	93,483	76,514	103,940
Profit before tax	8,295	8,488	7,789	23,686	21,585	28,495
Profit for the period	6,210	6,253	5,870	17,364	16,056	21,235

The audited results of Infosys Limited for the above mentioned periods are available on our website, www.infosys.com and on the Stock Exchange website www.nseindia.com and www.bseindia.com. The information above has been extracted from the audited interim standalone condensed financial statements as stated.

	By order of the Board for Infosys Limited
Bengaluru, India January 12, 2023	Salil Parekh Chief Executive Officer and Managing Director

The Board has also taken on record the condensed consolidated results of Infosys Limited and its subsidiaries for the quarter and nine months ended December 31, 2022, prepared as per International Financial Reporting Standards (IFRS) and reported in US dollars. A summary of the financial statements is as follows:

(in US$ million, except per equity share data)

Particulars	Quarter ended December 31,	Quarter ended September 30,	Quarter ended December 31,	Nine months ended December 31,		Year ended March 31,
	2022	2022	2021	2022	2021	2022
	Audited	Audited	Audited	Audited	Audited	Audited
Revenues	4,659	4,555	4,250	13,657	12,031	16,311
Cost of sales	3,230	3,170	2,856	9,544	8,041	10,996
Gross profit	1,429	1,385	1,394	4,113	3,990	5,315
Operating expenses	428	406	396	1,245	1,155	1,560
Operating profit	1,001	979	998	2,868	2,835	3,755
Other income, net	94	73	68	254	223	308
Finance cost	10	8	7	25	20	27
Profit before income taxes	1,085	1,044	1,059	3,097	3,038	4,036
Income tax expense	285	295	283	859	823	1,068
Net profit	800	749	776	2,238	2,215	2,968
Earnings per equity share *
Basic	0.19	0.18	0.18	0.53	0.52	0.70
Diluted	0.19	0.18	0.18	0.53	0.52	0.70
Total assets	15,226	15,640	14,673	15,226	14,673	15,555
Cash and cash equivalents and current investments	2,456	3,276	2,703	2,456	2,703	3,185

* EPS is not annualized for the quarter and nine months ended December 31, 2022, quarter ended September 30, 2022 and quarter and nine months ended December 31, 2021.

This Release contains ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and that are based on our current expectations, assumptions, estimates and projections about the Company, our industry, economic conditions in the markets in which we operate, and certain other matters. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as ‘may’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘continue’, ‘intend’, ‘will’, ‘project’, ‘seek’, ‘could’, ‘would’, ‘should’ and similar expressions. Those statements include, among other things, statements regarding our business strategy, our expectations concerning our market position, future operations, growth, margins, profitability, attrition, liquidity, and capital resources, our ESG vision, our capital allocation policy, the effects of COVID-19 on global economic conditions and our business and operations, wage increases, change in the regulations including immigration regulation and policies in the United States, and corporate actions including timely completion of the proposed buy-back of our equity shares. These statements are subject to known and unknown risks, uncertainties and other factors which may cause actual results or outcomes to differ materially from those implied by the forward-looking statements. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2022. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

EX-99.4 ACQ AGREEMNT

 Exhibit 99.4
Press Release