#GreyhoundInMedia: @Infosys net profit jumps 28.6% in Q2, shares surge #Press #Media @livemint

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Infosys Ltd, India’s second largest software services exporter, on Friday reported a higher-than-expected 28.6% increase in fiscal second quarter (Q2) net profit as it added almost 50 new clients and benefited from a foreign exchange gain. The company announced a one-for-one stock dividend, propelling its shares to a record high.

Infosys is going through a “sluggish” growth phase as compared with industry standards, according to Sanchit Vir Gogia, chief analyst and CEO of Greyhound Research, an IT and telecom advisory firm.

“Getting a buy-in from senior management, addressing investors, areas of improvement, becoming more hands-on to the business are the key things that Vishal would have to address for the first 12 months or a short-term goal,” said Gogia.

Greyhound Research does not expect any major changes in the next two-three quarters. “The first 90 days (of a CEO’s stint) are more internal-facing. It’s important for Vishal to understand the business, its people and issues revolving around the company,” said Gogia. “He should essentially better acquaint himself with the business and develop relationships, and earn trust before making defining changes.”

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