Click to play videoMumbai: Infosys threw out the US slowdown debate with its guidance of the year. The company's stock touched a lifetime high and Infosys became the third most valued Indian company.
Who said elephants can't dance – with its latest results Infosys has proven that the tech giant is as nimble footed as ever to take on the challenge of a US slowdown.
Not only have profits and revenues zoomed much above with the street's estimates, the combination of double digit revenue growth and a more than 46 per cent growth in profitability has the analyst community doing a fine jig. So how will Infosys live up to its promise of higher growth every quarter?
CEO and Managing Director, Infosys Nandan M Nilekani, says, “Volume growth, billing rates, SG&A savings clients willing to commit for more".
The biggest surprise was the growth in margins. Volumes also grew boosted by greater cost controls and a weakening rupee. But the big challenge for Infosys remains getting the right people and making them stay on. Despite Infosys being regards as one of the best company's to work for, Nilekani admits the 'HR challenge' is still a big one.
“All our feedback leads us to believe that while IT spending is not going up so much its really the direction towards the globalisation of IT services and offshoring continues which is why we have revised the guidance for the year to more than $3 billion which gives us annual growth rate about 45 to 46 per cent. Infosys in last several years building scale, building client relationships is all beginning to pay off,” says Nilekani.
Despite the HR challenges, brand Infosys is still very much on top of the tech pack. In fact Infosys on Wednesday became third most valued Indian company. If it continues growing at the pace it is, it may well be rubbing shoulders with some of its Fortune 500 clients.
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