Infosys North America sales decline, Europe grows
Infosys' revenues from North America declined 0.8% during Q3 ended December 31. North America contributed 60% of company’s rev during three-month period.
The Bangalore-based company’s revenues from Europe, its second-largest market, rose 5.5 per cent. The region contributed 24.9 per cent to the company’s revenues during the quarter. In October, Infosys had signed a multi-year contract with Toyota Motor Europe to manage the automakers technology applications across Europe.
The decline in North America sales come at a time when analysts have been betting on improving macroeconomic sentiments in that region. Large outsourcing clients in the United States are expected to be spending more on information technology and outsourcing compared to the same period last year.
On Friday, Infosys reported a 21.4 per cent rise in fiscal third-quarter profit. Profit for the three months ended December 31, rose to Rs 2,875 crore from Rs 2,369 crore for the year earlier period, the company said in a statement.
Infosys said its revenues from India, which contributed 2.6 per cent of the company’s revenues, grew 9.2 per cent, while the rest of the world contributed 12.5 per cent of its total sales during the three months up to December 31.