Infosys beats peers with 19% business growth in Q2

BENGALURU: Despite the global economic slowdown, Infosys put up a solid show in the September quarter, with a robust order book and tight control on expenses leading to an improvement in operating margin. Revenue in constant currency rose 18. 8% year-on-year and 4% sequentially. The year-onyear growth was well above that of peers. The performance pushed Infosys ADRs up 5% to $17. 9 apiece in early trades on the NYSE.

“Growth in Q2 was broadbased with all industries and geographies growing in double digits in constant currency,” said CEO & MD Salil Parekh. This momentum, he said, was accompanied by a strong pipeline of large deals. More than half of these were net new contracts. The company recorded its highest large deal this quarter at $2. 7 billion, up from $1. 7 billion in the June quarter. “These elements reflect deeply differentiated digital and cloud capabilities we have developed that are highly relevant for a clients’ strategic priorities,” Parekh said.