1.10 pm: Welcome to the live coverage of the press conference being hosted by Infosys management.
1.12 pm: Vishal Sikka, who was appointed CEO in August last year, runs through the numbers:
- Third quarter revenues stood at Rs 13,796 crore, year-on-year growth of 5.9 percent. Revenue growth in constant currency terms stood at 2.6 percent quarter-on-quarter.
- Operating margins stood at 26.7 percent, increase of 1.7 percent year-on-year.
- Net profit at Rs 3,250 crore, an increase of 13 percent year-on-year.
1.14 pm: The new CEO says he is "excited about the results", which are showing effects from the company's 'new and renew' strategy he has implemented since taking charge.
1.16 pm: COO UB Pravin Rao said that while the broad deal pipeline "looked robust", the company was seeing pressures from Europe, which is struggling with a broad economic decline, as well as from energy-company clients.
Despite that, the company had chosen to maintain its full-year revenue growth guidance to 7-9 percent, he said.
He added that attrition, which came in at an elevated 20.4 percent, will take a few years to come down to normal levels.
1.17 pm: Dr Sikka makes a slew of announcements: 100 percent bonus payouts, increasing the size of the company's start-up fund from USD 100 million to USD 500 million.
1.20 pm: On a question related to what Infosys plans to do with the Rs 33,500 crore cash that's sitting on its balance sheet, an issue analysts have increasingly ruminated over recently, Sikka said the company would spell out its capital allocation plan soon.
1.22 pm: The CEO says the company is taking up training in a big way and its sales force has been asked to undertake a number of training programs. "We are embracing design thinking in a big way. About 400 top executives underwent intensive training and we have tied up with Stanford for programs."
1.25 pm: On that note, the company winds up its press conference plan.
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