The company posted a second-quarter net profit of 33.98 billion rupees ($525 million) in the three months to September 30, compared with 30.96 billion rupees a year ago.
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Shares of Infosys fell below their psychological mark of Rs 1,100 in Tuesday’s trade after the company lowered its full-year revenue guidance, which generated mixed reaction from foreign brokerages.
Infosys Ltd has reported its best quarterly results in four years, with both revenue and profit turning out to be far higher than analysts’ expectations.
Infosys issued the revised forecast along with its second-quarter results on Monday, the first set of numbers released in India’s $150 billion software services sector.
Ranganath, who held leadership positions during his 15-year tenure with the company, is executive vice president and head of strategic operations, responsible for planning, risk management, mergers and acquisitions and corporate marketing.
The company, however, scaled down its annual revenue growth projection for the year in dollar terms keeping factors like currency volatility and toughness in business in the second half of the fiscal. Infosys now expects its revenue to grow 6.4%-8.4% in dollar terms for FY 2016.
“At the same time, Panaya’s proven technology helps dramatically simplify the costs and complexities faced by businesses in managing their enterprise application landscapes”. However, it is still early in our journey, we are making great progress on our “new and renew” strategy.
Software major Infosys would hire about 20,000 graduates from university and college campuses across the country in 2015-16 as freshers, a senior company official said on Monday.
The company has, however, maintained its revenue guidance in constant currency basis at 10-12 per cent.
“Rajiv Bansal, Executive Vice President and the Chief Financial Officer (CFO) of Infosys since October 2012, has informed the company of his intention to resign”, Infosys said in a statement.
“Increase in revenue productivity was significant, volume growth was robust, client metrics and utilisation improved while attrition remained stable”, he added.
The fiscal year starting April next year “could see the start of the value compression spiral in traditional services which we have been anticipating”, he said.
As a result of these cumulative offerings, the company gained 82 clients during the quarter, with the total number of clients crossing the 1000th mark.
Infosys CEO Vishal Sikka said it is very sad to see that Bansal is leaving, but said he is pursuing opportunities outside. Bansal will continue to be special adviser to CEO and a member of board till December 31, to ensure smooth transition.
Infosys CFO Vishal Sikka praised Mr Bansal’s contribution saying, he’s been a “brilliant” CFO.
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Based in Bangalore, India, Infosys is engaged in consulting, technology, outsourcing and next-generation services.
