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Infosys rejigs business units

Consequent to the internal reorganisation, there were changes in the reportable business segments based on “management approach”.

July 19, 2018 / 10:07 PM IST
8 | Infosys |  Market Cap for the week ended October 30: Rs 4,51,753.23 crore crore | Loss during the week: 26,152.79 crore.

8 | Infosys | Market Cap for the week ended October 30: Rs 4,51,753.23 crore crore | Loss during the week: 26,152.79 crore.

Infosys has reorganised some of its business segments as part of its efforts to improve focus of sales investments and increase management oversight. The Bengaluru-based company has carved out communications (earlier a part of energy, utilities, communications and services) as a separate business unit as part of these efforts.

"During the three months ended June 30, 2018, the company internally reorganised some of its business segments to deepen customer relationships, improve focus of sales investments and increase management oversight," Infosys said in a regulatory filing.

Consequent to the internal reorganisation, there were changes in the reportable business segments based on “management approach”, the filing added.

Infosys' go-to-market business units will now include Financial Services; Retail; Communication; Energy, Utilities, Resources and Services; Manufacturing; Hi-tech; and Life Sciences.

Others category will include India, Japan, China, Infosys Public Services and other businesses in Public Services, the filing said.

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In January this year, Infosys had appointed former Capgemini executive Salil Parekh as its chief executive officer. He was tasked with turning around the company, that faced a year long acrimony between founders and previous management over corporate governance issues.

Under Parekh's leadership, the country's second largest IT services firm Infosys has outlined a three-year road map to stabilise and accelerate the company's business.

Infosys is betting on growth with strategic investments and plans to invest in inorganic moves to expand client relevance. Key investments will also focus on enhancing company's capabilities and increasing localisation efforts, Parekh had said.

Earlier this month, Parekh had said the company was witnessing a "good" demand environment in large markets such as the US and Europe. The company has set a revenue growth target of 6-8 per cent for the full financial year.
PTI
first published: Jul 19, 2018 09:37 pm

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