India’s second largest IT services exporter Infosys Ltd reported better than expected net profit numbers and revenue, which were in line with market expectations for the third quarter of the current financial year.
However, Sanchit Vir Gogia, Chief Analyst and CEO at Greyhound Research said that the dollar growth rate was sluggish. “While Vishal (Sikka) has done a great job in mapping the long term strategy, the market will (continue to) look out for softer signs of improvement in short and medium term.
Infosys also needs to go beyond pure commentary on digital, social media and analytics portfolio and attach concrete financial outcomes and guidance in the coming quarter. He has done a great job in reviving interest in the supporting ecosystem and in rethinking the existing portfolio of strategic partnerships. He deserves another two full quarters before any judgement can be passed about the company’s performance under his leadership.”
The markets, however, seemed to have liked the company’s performance with the stock going up by 5.13 per cent to Rs 2,074, at close of trading on Friday.
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