Moneycontrol
Apr 13, 2017 04:51 PM IST | Source: Moneycontrol.com

Deal wins of over $800 million in Q4; focus on winning more of them: Infosys

The Bengaluru-based firm won six large deals worth USD 806 million for the quarter that ended on March 31, 2017

Deal wins of over $800 million in Q4; focus on winning more of them: Infosys

Moneycontrol News

Information technology (IT) major, Infosys, outlined that its deal wins was as in the excess of USD 800 million and the focus will remain on winning large deals, going forward.

The Bengaluru-based firm won six large deals worth USD 806 million for the quarter that ended on March 31, 2017.

The company’s CEO Vishal Sikka stated that the emphasis would be on winning larger deals.

Infosys' fourth quarter earnings barring bottomline missed analysts' expectations on Thursday. Even its FY18 guidance was lower than estimates but the announcement of Rs 13,000-crore payout through dividend or share buyback during the year and fall in attrition rate minimised losses in the share price. The stock fell 2.88 percent intraday.

The software services exporter has reported consolidated profit at Rs 3,603 crore for the January-March quarter, degrowth of 2.8 percent from Rs 3,708 crore in previous quarter. Revenue also fell 0.88 percent to Rs 17,120 crore on sequential basis.

"Unanticipated execution challenges and distractions in a seasonally soft quarter affected our overall performance," Vishal Sikka, CEO said.

However, he added that the company continued to see many positive signs of its strategy execution; software-led offerings continued to show strong momentum and client success and employee engagement continued to drive down attrition, especially with top performers.
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