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Infosys Announces Q1 FY21 Revenues Down 0.3% (Up 1.5% in CC) to $3,121m

Financial Results

by Charlotte Carter

published on Jul 15, 2020

Infosys has announced results for Q1 FY21, for the period ending June 30, 2020:

  • Revenues were $3,121m, down 0.3% y/y, up 1.5% in CC
  • Operating income (EBIT) was $708m, a margin of 22.7%, up 2.2 pts y/y.

Q1 FY21 estimated revenue by geography (with reported and CC  y/y growth in US$) was:

  • North America $1,918m (-0.5%, flat CC) 
  • Europe $750m (+1.5%, +4.4% CC)
  • India $90m (+23.3%, +8.4% CC
  • Rest of World $363m (-7.4%, flat  CC).

Q1 FY21 revenue by service type (with reported and CC  y/y growth in US$) was:

  • Digital ($1,389m (+24.1%, +25.5% in CC). Digital accounted for 44.5% of global revenue
  • Core $1,732m, -13.9%, -11.8% in CC)

Q1 FY20 revenue mix by industry (with approx revenue and reported and CC y/y growth in US$) was:

  • Financial Services 31.5% ($984m, -0.1%, + 2.1% CC)
  • Retail 14.3% ($447m, -9.3%, -7.4% CC)
  • Communication 13.4% ($417, -3.2%, -0.7% CC)
  • EURS 12.8% ($399m, -1.9%, -0.2% CC)
  • Manufacturing 9.5% ($298m, -1.3%, +0.3% CC)
  • Hi Tech 8.7% ($272m, +12.9%, +13.4% CC)
  • Life Sciences 6.7% ($208m, +7.9%, +7.7% CC)
  • Others 3.1% $96m(+20.7%, +24.4% CC).

Infosys had 1,458 active clients at the end of Q1 FY21, with 122 new clients added during the quarter.

Major client contribution to revenue (and in Q1 FY19) was:

  • Top client 3.4% (3.4%)
  • Top 10 clients 19.3% (20.0%).

Headcount at the end of June  2020 was 239,233, a net y/y increase of 10,204, or 4.5%.

Annualized attrition was 11.7%, up from 20.2% in the prior year period and the 15.3% reported in Q4 FY20.

Initial currency type (specify local currency used)US$
Period Ending2020-06-30
Revenues ((m) in local currency3121
Revenues (in $m at that date)3121

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