The Bengaluru-based IT giant Infosys emphasis on securing big deals pays off. Shares of Infosys hit a fresh record high of ₹1,597.3, up 1.3% on the Bombay Stock Exchange in mid-July, after the IT giant delivered another handsome set of numbers for the June ended quarter. The company’s performance was the best in a decade in the first quarter of a financial year. The IT major didn’t refrain from signing big deals contributing over $100 million in revenue.
The number of active clients that Infosys has in the $100 million-plus category was increased to 34 in Quarter one of 2021 as opposed to 25 in Q12020. Another IT giant TCS, could only increase the client number by two, whereas Wipro’s remained unchanged at 13. Pravin Rao, COO at Infosys, says that the energy, utility, resources, and services vertical grew in strong double-digits, along with amazing deal wins during the June quarter.
He also added that customers are returning back to normalized levels of discretionary spending, notably in areas involving customer experience, operational efficiency as well as associated legacy transformation. Pravin also noted that the outlook is improving across sub-sectors and geographies where Infosys operates. Ankit Gupta, who is a Practise Director at Everest Group since late 2019, stated that Infosys has always been very vocal about focusing on large deals as well as committed resources in terms of monetary and people in order to achieve their results and goals.
Salil Parekh, who holds the office of the CEO at Infosys while talking to analysts discussing Infosys’s last fiscal’s financials, noted that the large deals come when clients are looking at very strategic, digital transformation programs which starts in fields like business, technology, and operations together or look at business, technology as well as a cloud which drives a lot of that change.