Infosys posts better Q1 growth but discretionary spending is yet to pick up

Infosys echoed a continued slack in discretionary spending by clients. During an analyst conference call, it mentioned that though there are early signs of pick up in the banking, financial services, and insurance (BFSI) vertical, the largest revenue generator for the company, a strong recovery is not yet visible. BFSI contributed around 28% to the company’s revenue in the June quarter.