Infosys adds 61 clients in Q1 but number of $100 million clients drops by one

MUMBAI: Infosys added 61 clients in the first quarter but the number of $100 million clients dropped by one to 12 from the fourth quarter and by three from the year ago period and revenue contribution by the company’s top client declined.

Revenue contribution by Infosys’ top client declined to 3.4% of revenue, from 3.6% of revenue in the previous quarter.

“Client addition of 61 in Q1 was strong but decline in top client (down 3.7% in Q1) for past three consecutive quarters remains as a key concern,” Pratik Gandhi, analyst with IDBI Capital Markets, said in a note.

The number clients contributing more than $1 million to revenue grew by 19 from the fourth quarter, and those contributing more than $5 million grew by three. The number of clients contributing more than $50 million to revenue grew by one.

For the quarter ended June 30, Infosys had 910 active clients.