Infosys decalres Q2 results: Client addition slightly up

BANGALORE: While Infosys’ posted better-than-expected second-quarter results, its client additions only improved slightly. The Bangalore-based information technology company added 68 new clients, just two more than what it did in the prior sequential quarter.

India’s second-largest IT services firm said it signed five large deals. Most of the new client additions fell in the “$10 million or less” bracket. There was no change in the number of clients contributing “$80 million and above” to revenues. The total number of active clients is now 873, up from 836 in the prior sequential quarter.

"During the quarter we witnessed broad-based volume growth, robust client additions, five large deal wins and increased sales momentum of our big data and cloud offerings,” said SD Shibulal, chief executive, in a statement.

The revenue contribution from the top client remained flat at 3.9%, while there was a marginal rise in contributions from the top 5 clients and top 10 clients. Infosys had 15 wins in the products and platforms segment, excluding banking product Finacle, which had 18 new wins.

Infosys’ raised the lower end of its full-year revenue guidance range to 9%-10%, from 6-10%.