Last updated: 14 Jan, 2021 | 09:37 am
Infosys has reported Q3FY21 results better than street estimates. Infosys was able to beat expectations due to its record high deal wins, and implementing cost cuts to maintain its revenue and operational profitability. Large deal wins during the quarter stood at $7.13 billion, out of which 73% was new deals.
The Covid-19 pandemic has forced a tectonic shift in businesses processes to move towards greater digitization. This has helped the IT sector to bounce back faster than other industries. Infosys said that the relevance of its is resonating with its clients in these times. The growth in Q3FY21 has improved visibility for the rest of the year for Infosys. The company is also confident of further expanding its revenues and margins going forward.