Comments
Axis Direct
Infosys (Buy)
CMP: ₹709.75
Target: ₹810
Infosys’s client acquisition momentum remained strong across verticals during Q3 FY19. Deal wins with TCV of $1,570 million remained healthy; another quarter of deal signings above its targeted threshold of $1 billion. Infosys signs 14 large deals during the quarter, out of which 10 were in North America, three from Europe region and one from other region. This shows that key geographical regions regain the momentum.
Key verticals such as financial services, engineering and utilities and manufacturing segments showed strong growth. BFSI segment grew 3.6 per cent q-o-q, E&U and manufacturing vertical grew by 7 per cent while retail segment continued to be soft but management is confident on gaining momentum on account of healthy deal pipeline.
North America still remained major contributor to the top line, contributed around 60 per cent of the revenue. North America region grew by 2.8 per cent sequentially in Q3 FY19. Europe region contributed around 24.2 per cent to the top line. Europe region showed a growth of 3.8 per cent in Q3 FY19. India region showed a growth of 5.2 per cent sequentially. Infosys continued to show steady growth in BFSI. Revitalisation of the core business areas with healthy deal pipeline promises long-term sustainable growth.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.