Nothing ambiguous about Infy’s performance
After a remarkably lean period, Infosys got its act together during the quarter winning fresh outsourcing deals that yielded $731 million. This augurs well for the $100 billion Indian IT industry as a whole. It grew the European market by 16% in revenues, when everyone thought Europe would continue to remain a weak spot.
Year 2012 was a big disappointment for everyone associated with the industry. Business volumes had dropped alarmingly, margins were under sever duress and employees on the bench piled up significantly during that time. Projections for 2013 were not rosy by any means, but going by what Infosys has dished out in Q3 there could be some light at the end of this long, dark tunnel.
For Infosys, its key acquisition last year has provided the extra cushioning. Revenues from
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