Seeking to nip the talk of Infosys Chairman N R Narayana Murthy's son being prepared for a bigger role in the company, its CEO and MD S D Shibulal today said Rohan's term will end with that of his father.
If there is one big takeaway from the fourth quarter numbers of Infosys then it is this: the company is going to find it very difficult to grow at par with the rest of the industry.
Nasscom (National Association of Software and Services Companies), a a trade association of Indian Information Technology and Business Process Outsourcing industry, in February said that IT exports from the country would grow 13-15% in FY15 but Infosys,
Bangalore-based Infosys stock was up almost 4.7% during trading hours as the company managed to give numbers that met with street expectation for the fourth quarter of FY14. Éven though the company's guidance for FY15 is lower than Nasscom's
Infosys surprised the Street with a 4.1% q-o-q rise in its net profit for the fourth quarter ended March 2014 at Rs 2,992 crore. In conversation with Jinsy Mathew, Ankita Somani, IT analyst, Angel Broking shares her views on Infy's Q4 numbers.
The results season has been flagged off by a better than expected set of numbers from Infosys. Against an expected Rs 2,835 crore of net profit, the company posted Rs 2,992 crore, a gain of 4 per cent over previous quarter.
Bangalore-based Infosys surprised the Street with a 4.1% q-o-q rise in its net profit for the fourth quarter ended March 2014 at Rs 2,992 crore.
Infosys expects to grow at a much slower pace in FY15 than the rest of the industry. The company surrendered its leadership position a while ago, but a single digit revenue forecast for FY15 suggests that Narayana Murthy's return too isn't enough.
IT major Infosys today reported a 4.1% uptick in Q4 net profit at Rs 2,992 crore on a sequential basis.On an annual basis, it posted a 23.2% increase in quarterly net profit as it added new clients including Chinese-owned Swedish automaker Volvo Car Corp.
The markets have slumped after a positive opening due to weakness in financial stocks. Markets had started the day's proceedings on a positive note, with Infosys heralding the result season season with a decent set of numbers.
Infosys is trading 3% higher at Rs 3,335 on the NSE (National Stock Exchange) after the company reported a better-than-expected 4.1% sequential growth in consolidated net profit at Rs 2,992 crore for the fourth quarter ended March 31, 2014 (Q4).
Infosys, India's second largest software services firm, has initiated a process to find a successor to S D Shibulal, the current CEO and a co-founder of the firm.
Faced with weakness in client spending, ramp-down of projects and exits of key senior executives, city-based Infosys is expected to post muted earnings for the quarter ended March.