Our IT services supplier Infosys has seen a sharp rise in first quarter sales, up 40 per cent to $928m (£457m), due to strong performances in the UK and North America.
The Bangalore-based company has added 35 new clients during the quarter, including two European banks, a UK retailer and Canadian telecoms provider. The firm has increased sales forecasts for the year ahead, and expects to grow by up to 30 per cent, to as much as $4bn (£1.8bn).
Infosys says increasing demand for business software and strong growth in areas such as consulting, engineering services and implementation were behind the good results.
‘As clients recognise the strategic imperative of global sourcing in an increasingly flat business world, the demand for large players like Infosys continues to be strong,’ said Infosys chief executive S. Gopalakrishnan. Profits also rose at the company, up from $199m (£98m) for the first three months of last year to $291m (143m) this year.
‘The sharp appreciation of the rupee against all major currencies impacted our operating margins during the quarter,’ said Infosys chief financial officer V. Balakrishnan. ‘However, our robust and flexible operating and financial model enabled us to maintain our net margins while absorbing the impact of appreciating currency, higher wages and visa costs.’
Hmmm!! It may sound good but what about the status of our Indian Investors who have bought its shares in the market??
Infy was going high in the margin of 2020 Rupees yesterday but when the results were announced later today, it was breached down to 1920.50 mark !! why there is so much decline in the share value all of sudden??
well, I could say it becos of weakening in the Dollar Value... Yes, the dollar value has been weakened in the international market whereas Indian Rupees and China's Yuan has been quiet high these days.. Kudos of our Rupee value but this has become a disadvantage for the Indian Investors in the IT companies... The perfect example which i would say is the status of the Infy today's share value.... :)
If we see an advantage in our currency in the overall market, we could also see an tremor in the IT companies share values as well... :)