Live Infosys Q2: Murthy credits Sikka for earnings show

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26 Aug, 2025 12:21

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11:20 am: You have give credit to Dr Sikka's strategy, says Murthy. "His performance is showing up in the results."Sikka will bring powerful ideas and innovation in technology with respect to existing services, and create more value for clients, says Murthy.

"I am an admirer of Sikka and have a lot of respect for him."

11:15 am: Co-founder NR Narayana Murthy is now speaking on the results. Remember, this morning, Infosys announced that Murthy would step down as Chairman-Emeritus. He has also been classified as a non-promoter shareholder. This essentially means that the last thread to the Infosys of old, led by its co-founders, is cut.

11:05 am: "We are looking to see a meaningful revival in business in the next two years," Sikka says. "Our long term target is to grow in the 15-18 percent range while we want to target EBIT of 25-38 percent."

This year, Infosys has stuck to its 7-9 percent growth forecast.

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Vishal Sikka

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11:00 am: Sikka is now speaking with CNBC-TV18 in an exclusive chat.

10:50 am: Infosys shares are up over 5 percent in early trade. Other IT stocks have a positive rub-off too, in a weak market.

10:40 am: "I believe earlier there was a way of doing businesses which involved providing cost-effective software services. That is not the direction we want to go. We want to up the ante on innovation: in the area of big data, automation, analytics, artificial intelligence etc," says CEO Sikka.

10:35 am: CFO Rajiv Bansal now goes through the quarterly numbers. Here are the earnings at a glance (in Rs cr).

10:30 am: "We had an exciting performance during the quarter. We are already seeing some impact of the changes we are looking to bring about."

10:28 am: "I look forward to leading Infosys back to industry-leading profitability."

10:25 am: "We are embarking on a new journey to renew the existing work that we do. In the 70 days, I have been in charge, I have had discussions with a lot of our partners. We are looking to improve operational efficiencies, renew our sales approach, productivity evaluation and introduce newer systems to measure productivity."

10:20 am: The new CEO is speaking at the post-result press conference.

10:10 am: Attrition has picked up but this would have been expected as a new management at the top would have led to some change in ranks.

10:00 am: Several pieces of good news. Utilization for the IT services and consulting business improves at Infosys from 75.8 percent to 76.2 percent (including trainees).

9:50 am: Infosys has also announced a 1:1 bonus. Infy shares are up 6.4 percent.

9:40 am: The new CEO has been looking to turn around Infosys' performance after its revenue and profit growth had fallen behind industry peers, and specifically TCS, leading the firm to recall founder Narayana Murthy out of retirement. After a one-year stay, Murthy appointed Sikka as chief and has stepped back again.

9:25 am: Dr Sikka, who took over as CEO on August 1 amid much churn at the company, has gotten off to a good start. Infosys solidly beat street expectations on virtually all parameters. On a quarter-on-quarter basis, revenue jumped 4.5 percent to Rs 13,352 crore, dollar revenue climbed 3.1 percent to USD 2,201 million. Net profit in rupee terms rose 7.3 percent to Rs 3,096 crore while it rose 6 percent to USD 511 million. These were better than what a CNBC-TV18 poll of analysts had forecast.

9:20 am: One of India's most iconic companies, Infosys, today started a new chapter when it declared quarterly earnings under its first non-founder CEO Dr Vishal Sikka.