Infosys reports record $7.13 billion deal wins — raises revenue guidance after its best December quarter in eight years

• Infosys more than doubled its deal wins in the December quarter, setting a new record with $7.13 billion deal wins.
• India’s second-largest IT services company has clocked in a 7.3% rise in its third-quarter profit, while margins stood at 25.4%.
• Digital revenues accounted for over half of its total revenues, with a growth of 31.3%.
• Infosys has also raised its revenue guidance for FY21 to 4.5-5%.

Infosys delivered another blockbuster quarter, led by its largest-ever deal wins so far worth $7.13 billion in the December quarter — with digital revenues accounting for over half of its total revenue.

And it has raised guidance for FY21 revenue to 4.5-5%, while its margin guidance has been revised upwards to 24-24.5%. This is the second upward revision in the revenue growth guidance for the IT giant this year.

Infosys reported a 7.3% growth in its profit, while its revenue growth in constant currency terms stood at 6.6%. Margin growth remained flat quarter-on-quarter at 25.4%.

Infosys shares have rallied by nearly 25% in the December quarter. Its shares have surged over 70% in the calendar year 2020.


“The Infosys team has delivered another quarter of excellent results. Execution of client relevant strategy focused on digital transformation continues to drive superior growth, well ahead of the industry,” remarked Salil Parekh, CEO and MD, Infosys.

Client data for Infosys

Particulars	Dec 31, 2020	Sep 30, 2020	Dec 31, 2019
Number of Clients
Active	1,562	1,487	1,384
Added during the period (gross)	139	96	84
Number of million dollar clients*
1 Million dollar +	761	745	705
10 Million dollar +	246	242	232
50 Million dollar +	60	60	61
100 Million dollar +	29	30	28
Client contribution to revenues
Top 5 clients	10.80%	11.30%	11.30%
Top 10 clients	18.50%	18.70%	18.90%
Top 25 clients	34.60%	34.20%	34.20%
Repeat business	95.10%	98.00%	97.20%
Days Sales Outstanding*	73	69	73

*Based on last twelve months revenues

“With the intense focus on client needs and the comprehensive foundation built on differentiated capabilities, I remain confident about the future,” he added.

The company also revealed that voluntary attrition rates in IT services have come down to 10%, from 15.8% in the same period last year.

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