Despite Beating Expectations, Infosys Falters As CFO Quits

Infosys manged to beat street expectations on Monday (12 October) but CFO, Rajiv Bansal, quit after a three year stint. He was brought in by Narayana Murthy, the Chairman Emeritus of Infosys, to revive an ailing company. But since then Infosys has delivered the best quarterly results, over the last two quarters, largely because of new clients signed up and startups acquired. To boot, Vishal Sikka’s strategy of achieving $20 billion by 2020 is on track. However, with Bansal resigning, there was a correction in the stock price.

Analysts remained tepid about the company. According to Greyhound Research the company has historically acquired more customers in the first two quarters. The research firm adds that the next two quarters will see tepid growth because it will try to consolidate revenues with the existing clients pool.

Source: BusinessWorld

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