Infosys Q1 2016 revenue up 5 percent

BENGALURU, INDIA: The second largest IT services major Infosys which declared its financial results for Q1 2016 today, saw its revenue grow by 5 percent and volume growth increase to a 19 quarter high.

However, the company’s consolidated net profit fell 2.16 percent sequentially to Rs 3,030 crore and revenue rose 7 percent to Rs 14,354 crore in the quarter ended June.

Rupee revenue growth (excluding acquisitions) was the highest in 15 quarters, the company said in its communiqué to the BSE. It added that the estimated dollar revenue also grew 5.7 percent.

"Efforts in redesigning clients’ experience and widespread adoption of innovation, both in grassroots and breakthroughs, are starting to bear fruit in large deal wins and in the growth of large clients”, said Vishal Sikka, CEO and MD, Infosys.

Infosys added 79 clients during the quarter. "We have signed 6 large deals with TCV for $688 million. We added 2 clients in $200 million bucket, taking the total to 6 clients," he said. In the quarter, the company added clients like Deutsche Bank, Allied Irish Bank, ServiceFirst ($76 million deal), NBTY (the global manufacturer of vitamins and nutritional supplements) etc.

It completed the implementation of Infosys Smart Oilfield Services Solution for SAP ERP at FTS International (FTSI), the largest private well completion company in North America.

Additionally, volume growth stood at 5.4 percent on sequential basis, the highest in last 19 quarters, Infosys said in the communique. “The organization realignment made earlier this year for deeper client and operational focus has resulted in strong volume growth,” said UB Pravin Rao, COO.