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IT bellwether Infosys declared its results for the first quarter of the financial year 2011-12. The management said, this quarter Europe, in reported currency terms, was weak or flat. “It is not surprising, given the current sentiments in Europe. But at the same time, if you look at core businesses, we see a fair degree of stability.”
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In an interview with CNBC-TV18, IT bellwether’s management spoke about the quarter gone by and gave their outlook going forward. The management said the company had achieved upper end of the guidance.
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N Chandrasekaran, managing director and CEO of TCS, said that the company is trying to grapple with visa issues for quite sometime; however, the company's growth outlook continues to remain robust.
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Anand Sankaran, senior vice president and business head of India, Middle East and Africa business at Wipro Infotech, said that Wipro Infotech, as an independent business unit, will continue to be intact and customers should not worry about the management changes.
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In an interview with CNBC-TV18, V Balakrishnan, CFO, Infosys, newly inducted board member, said in the short-term, there is going to be greater volatility in the global economic environment. “That could impact the client’s ability to spend and that will impact our revenue growth also,” he added.
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CNBC-TV18's Sunanda Jayaseelan spoke to TV Mohandas Pai, the former HR Head at Infosys on the new management who takes on the mantle from Mr Murthy.
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Speaking to CNBC-TV18, Infosys CFO V Balakrishnan, said that the company is working closely with the US government on the complaint by the employee.
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Reacting to the management restructure, principal analyst and CEO of Offshore Insights Sudin Apte says he finds the appointment of a non-IT leader at Infosys a welcome change for the industry.
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Big changes have taken place at Infosys after all the hoop-la surrounding the question, who will succeed Narayana Murthy. Well, the suspense is finally over with KV Kamath taking over the mantle at Infosys. So how is competition digesting this change of guard?
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NS Raghavan, co-founder of Infosys Technologies says that the shift is in lines with the expectations. “it is a transition from promoters to new leadership,” he says on his initial reaction to the change in management. He also assumes that Kamath will continue till 70 years of age.
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In an interview with CNBC-TV18, Chanda Kochhar, MD and CEO, ICICI Bank clarifies that Kamath will continue to remain non-executive chairman of ICICI Bank. Kamath's appointment at Infosy will not affect his role at ICICI Bank, she adds.
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From the top management at Wipro, TK Kurien, CEO, IT Business & Executive Director; Suresh Senapaty, Executive Director & CFO and Pratik Kumar, Corporate, VP-HR, spoke about the company's performance and how they saw the road mapping out going forward.
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IT analysts Sandip Agarwal of Antique Stock Broking and Shashi Bhushan of Prabhudas Liladhar say that the TCS Q4 results have been a houseful but they is doubt on the room for margin growth post Q4.
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Kawaljeet Saluja, Analyst, Kotak Securities and Sudin Apte, CEO and Principle Analyst, Offshore Insights, in an interview on CNBC-TV18 spoke about Infosys and the impact it had on the market on Friday.
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Kris Gopalakrishnan, MD & CEO told CNBC-TV18 that EPS guidance in rupee term is muted as it has taken into account the impact of huge hiring that is slated for FY12.
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In a move which took most people by surprise, Infosys' director in-charge, Human Resource and Administration, Mohandas Pai resigned on Friday from the board of the company with effect from June 11, 2011.
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A disappointed Sanjeev Prasad of Kotak Institutional Equities they were expecting FY12 EPS guidance of Rs 132-138 for Infosys. "It seems like they have taken a conservative view of the rupee,” he said.
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Nilesh Shah, MD & CEO of Envision Capital, in an interview on CNBC-TV18 spoke about how he sees Infosys' Q4 results panning out and his expectations from the IT bellwether.
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Infosys founder NR Narayana Murthy said there is no need for any tax exemptions for the big IT companies.
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TV Mohandas Pai, Director, Human Resources and Member of Infosys Board is hopeful that STPI benefits will be extended in this year’s budget.
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In an interview with CNBC-TV18’s Kritika Saxena, Shiv Nadar from HCL Tech said that they would be go ahead with restructuring if the clients’ need demands it and how do they consider it as an opportunity to adapt.
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In an exclusive interview with CNBC-TV18, the company's board including MD and CEO N Chandrasekhar, CFO S Mahalingam, ED-corporate affairs Phiroz Vandrevala and global head of HR Ajoy Mukherjee, said the business momentum continues to be good.
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Infosys' performance in the December quarter has been tad below street estimates. The company has reported consolidated net profit at Rs 1,780 crore as against Rs 1,737 crore in previous quarter, a growth of 2.48% (based on IFRS - International Financial Reporting Standards).
