The global recession would ease in the next 18 months and India, in particular, would recover faster, Kris Gopalakrishnan, chief executive and managing director of Infosys Technologies, and chairman of Industry Vision Group, said.
He was delivering the keynote address before the start of the panel discussion on 'Big vision big opportunities: Destination Mysore' organised by the Confederation of Indian Industry (CII) on Wednesday.
Goplakrishnan said export markets had remained stable despite the recession. This should strengthen industrialists' faith in the markets. If the investments continued and opportunities followed, growth would be assured, he said.
Infosys Technologies, the second largest services firm of country by revenue, would take tough stance against poor performers. With 2,200 of its employees already been put under scanner for non-performance, things may be tough for the current staff.
However, the company ruled out any lay-offs and said that it wouldtake other measures to cut costs and increase business efficiency.
Leading IT exporter, Infosys Technology has announced to recruit around 27,000 professionals by March this year. The company seems encouraged from 33 per cent rise in profit in the third quarter of 2008-09.
Infosys also added new clients recently and has issued positive future guidance. Thus, more professionals are required to deliver efficient services to new and existing clients.
Information technology (IT) company Infosys Technologies Ltd has made announcement about the opening of its first Latin American Subsidiary in Mexico.
The subsidiary, Infosys Technologies S. De R.I.De CV, would provide complete range of services such as business process outsourcing (BPO), infrastructure management and packaged solutions implementation. Besides, it offers business consulting and IT services for all verticals including banking, financial services, distribution, retail, and more.
Bangalore, Jan 11: Country’s software major Infosys Technologies posted a 25.2 percent rise in its consolidated net profit at Rupees 1231 crore for the quarter ended December 31. Last year in the same quarter the company had posted a net profit of Rs 983 crore.
Revenue grew 17 percent to 42.71 billion rupees from 36.55 billion rupees a year ago.
Total income of the group increased 19.25 per cent to Rupees 4,429 crore for the third quarter ended December 31, from Rupees 3,714 crore in the corresponding quarter ended December 31, 2007, Infosys Technologies informed the Bombay Stock Exchange.
The Chief Financial Officer of Software major Infosys Technologies, Mr. V. Balakrishnan said that the company has achieved 18.41% growth in consolidated net profits. The Net Profit for the quarter stood at Rs 11,000 million for the second quarter ended Sep. 30, 2007. The numbers were higher by 18.4% compared to the corresponding quarter of the previous year.
The earnings per share increased to Rs 19.26 from Rs 16.75 in the previous year’s quarter. The company declared an interim dividend of 120% or Rs 6 per share on face value Rs 5 each.
The company added 48 new clients and 4,530 employees during the quarter and told that now the employee strength has been extended up to 80,501.
Bangalore: Today, Infosys Technologies has declared the results for its first quarter ended March 31, 2007.
For the first quarter ended June 30, the IT major posted a 34.5 per cent growth in consolidated net profit that stood at Rs 1,079 crore.
The net profit of Rs 1,079 crore comprises a reversal of tax provisions totaling to Rs 51 crore. Earnings per share (EPS) augmented to Rs 18.89 from Rs 14.36 for the same quarter in the preceding year, a year-on-year growth of 31.5 per cent.