Country’s second largest IT firm Infosys has crossed the $2-billion-revenue mark in Europe for the first time, driven by strong demand for consulting and system integration (CSI) services.
The Bangalore-based firm, which reported revenues of $8.24 billion for the year ended March 31, 2014, saw the European region accounting for 24.4 per cent of the topline.
“If you look at the last year, we have had a good growth in Europe of over 17 per cent. And for the first time, we have crossed the $2-billion-revenue mark in Europe, which is a significant milestone,” Infosys President and Member of Board BG Srinivas told investors.
Last quarter, the revenue percentage from Europe was 25 per cent and Infosys added 17 new clients in the region, he added.
“Overall, CSI revenues from Europe is significantly higher as compared to rest of Infosys; it is closer to 42 per cent, primarily led with SAP which again has a dominant presence in the Continent Europe,” Srinivas said.
For the quarter ended March 31, 2014, North America accounted for 59.8 per cent of Infosys’ revenues (from 60.2 per cent in the year-ago period), while Europe contributed 25.2 per cent (from 25 per cent).