Infosys trails TCS in Q1 on muted BFSI performance, but outlook is strong

Like TCS, Infosys, too, reported a strong 25.6% growth in digital revenues

Even as there was no surprise in store during the June quarter performance of Infosys compared to Tata Consultancy Services, it was a study in contrasts.  The key difference was in the performance in the banking and financial services (BFSI) segment, which accounts for over 30 per cent of revenues for both companies. 

While Infosys registered a sequential fall in revenues by 0.2 per cent, the same for TCS was a growth of 3.7 per cent.

The commentary on the financial services space also differed between the two companies. While TCS said banks are increasingly giving incremental contracts, Infosys indicated