Infosys Technologies reported strong quarterly numbers and the company has registered better revenue growth, margins and profit growth compared to market expectations. Many analysts have recommended Buy call for Infosys. Axis Securities has also suggested a buy call for Infosys with 10 percent upside from current levels.

Strong revenue growth, healthy deal wins in Q3FY20: Infosys Ltd. Reported strong top line growth and healthy deal wins in Q3FY20. Infosys posted revenue growth of 9.5% on YoY basis and 1.0%on QoQ basis in constant currency terms for the period of Q3FY20. Infosys reported steady deal wins (14 large deals) with a TCV of $1.8 bn despite Q3 being a seasonally weak quarter. Operating margins have improved by 22bps to 21.9 sequentially. The operating margins were in line with the guided range of 21% - 23%

· Digital Strong broad based growth across verticals: Infosys posted strong broad based growth across verticals. In Q3FY20, Manufacturing and Hi-tech showed a strong growth of 3% QoQ and 1% QoQ respectively, Communication vertical also showed growth of 0.3% QoQ, Life sciences showed a robust growth of 5.8% QoQ, Financial services decline marginally by 0.2% QoQ. Geography-wise, North America showed grew of 10.1% YoY, Europe grew 12% YoY, and India business also showed sturdy growth of 18%YoY, while ROW showed marginal growth of 0.2% YoY. Digital business reported robust growth of 40% on YoY basis in Q3FY20, while core business has decline by 5% sequentially. Digital contribution to the top-line remained healthy at 40.6% with Cloud, IoT and Cyber data analytics witnessing strong growth

· Independent audit committee issued a clean chit: Infosys appointed audit committee on whistle blower complaints with the help of two external agencies. The audit committee does not found any wrong doing and evidence of financial impropriety or any misconduct. The committee said the complaints are without merit and issues a clean chit to the Infosys management. So the major concerns are fully addressed on corporate governance

· Healthy hiring for timely delivery: Infosys continued with the strong hiring, Infosys has added 6,938 employees during Q3FY20 taking total head count at 2,43,454 at the end of Q3FY20. Attrition rate has reduced to 17.6% in Q3FY20 from 19.4% in Q2FY20