Salil Parekh sees opportunity to 'build a stronger Infosys'

ANI | Updated: Jan 12, 2018 17:40 IST

Bengaluru (Karnataka) [India], Jan 12 (ANI): Post the release of the results for the third quarter (Q3) of the current fiscal, Infosys CEO Salil Parekh on Friday highlighted the presence of a number of opportunities to builder a "stronger Infosys."

Addressing the first press conference post his appointment as CEO of the IT major, Parekh said the ongoing digital disruption has created a new opportunity for the company.

"While clients are facing digital disruption, we see an opportunity rising for us. We have the trust of around 1,100 clients and over 200,000 employees who are happy to work with us. The business is growing well, there's high cash flow. With this renewed energy and attention, we have an opportunity to build a stronger Infosys," he said.

Highlighting the emergence of technology in terms of Artificial Intelligence (AI), Machine Learning, Internet of Things (IoT), Salil said Infosys is progressing towards stability and is "ready to serve clients in the new areas of demand."

Salil further noted that he is reviewing contracts with clients and looking to engage more with the people, ahead of a new strategy in April.

"The priority, at this minute, is to connect with people and clients," he said.

Adding to this, the company CFO Ranganath D Mavinakere opined that the growth reported is resilient on many dimensions, with improved operating margins as a result of broad-based improvement in operational efficiency.

The Indian MNC earlier reported a net profit of USD 796 million, thus registering a quarterly growth of 37.6 percent, and YoY growth of 45.4 percent. Revenue reported was USD 2,755 million, thus reporting quarterly growth of one percent in reported terms. Further, revenue guidance in constant currency was retained at 5.5-6.5 percent.

Infosys currently possesses a workforce of 201,691 employees as on December 31, 2017, with gross addition of 12,622 employees in Q3 of FY18.

The report also stated that 79 new clients were added in Q3 of FY18, taking the total client count to 1191. (ANI)