Infotech Lead India: Infosys on Friday said its Cloud business currently has more than 190 engagements and 3,500 experts.
Over the last quarter, Infosys won more than 15 engagements across Cloud services, Big Data and Security.
Infosys’ vision of being a Cloud ecosystem integrator has gained increasing acceptance with clients.
The technology giant is working with more than 30 partners to help clients create and manage their unified hybrid cloud environments.
During Q3 2012-13, the company won 8 large outsourcing deals amounting to US$ 731 Mn of total contract value
Its offerings in the Products and Platforms space continue to see good momentum. During Q3, Infosys had 14 wins across industries and geographies. Infosys products and platforms (excluding Finacle) are now adopted by more than 70 global clients.
During the third quarter, Infosys applied for seven patent applications in India and the U.S. With this, it has 525 patent applications in India, the U.S. and other jurisdictions, and has been granted 71 patents by the United States Patent and Trademark Office and two patents by the Luxembourg patent office.
Year-on-year growth was 12.1 percent.
Infosys’s net profit after tax was Rs 2,369 crore for the quarter ended December 31, 2012, which remained unchanged compared to the quarter ended September 30, 2012.
“We have done well in this quarter despite an uncertain environment. We continue to gain confidence from a strong pipeline of large deals. However, the broader economic environment remains difficult. Even so, we remain cautiously optimistic about the January-March quarter”, said SD Shibulal, CEO and managing director of Infosys.
“Infosys results are finally coming closer to reflecting the demand reality, and if this sustains for the next 2 quarters could indicate that the worst phase of the company is behind it and it can stand to benefit from the strengthening demand environment. The upping of full year guidance is also a good sign for the company which shows some semblance of a return to confidence for the company, which was quickly becoming a ‘negative outlier’ amongst the Indian services majors,” said Partha Iyengar, country manager – Research, Gartner India.
Infosys’ 3Q results were above expectations.
“The organic revenue growth beat the guidance given by the company earlier. Margins were marginally lower v/s our expectations, though. US and European economies are major revenue drivers for Indian IT companies. With greater stability expected in those economies, the velocity of decision making by clients may increase, which will be positive for Indian vendors. We also gain comfort from the management’s indication that, there is a strong pipeline which Infosys has,” said Dipen Shah, head of PCG (Private Client Group) Research, Kotak Securities.