Infosys reaps incredible profit; shares peaking high
Posted on: 21/Jul/2015 5:20:13 PM
According to reports by IT service provider Infosys Ltd, a business revamp that was proposed by its very first non-founder boss has brought to the firm incredible profit in the first quarter which has increased the net profit by 5 per cent. Following the announcement from Infosys, there has been a 11 per cent increase in the share value of the company.
Infosys a bellwether for the $150 billion IT service industry in India has been under the phase of struggle for retaining its market share as it faced severe staff exodus which was a huge hurdle for winning big deals.
The company has grown up considerably after the entry of Chief Executive Vishal Sikka a year ago. Artificial intelligence and digital technology were brought in to catch hold the position back and regain ground lost to its rivals including TCS (Tata Consultancy Services).
Sikka in his recent statement said efforts taken to redesign the experience of our clients and adoption of innovation in our processes are reaping fruitful results to grab large deals with large clients.
Between April and June, the firm saw 79 clients taking its total number to 987.
