INSUBCONTINENT EXCLUSIVE:
strong revenue growth for the fourth quarter of 2019 financial year, with the Mumbai-based IT giant remaining bullish on continued growth
it invests more on training and hiring locally in the US, its largest market.
In a first, both companies announced their annual financial
TCS announced a final dividend of Rs 18 per share
performance as it powered ahead with its best show in 15 quarters
disappointed analysts by forecasting lower-than-expected growth at 7.5-9.5 per cent for FY20 and slashed margin expectations to 21-23 per
cent.
Boost from digital revenuesIts fourth quarter profits increased 10.4 per cent to Rs 4,074 crore and revenue by 19.1 per cent to Rs
Then as the year continued we were comfortable to raise the guidance
in revenues to $20.9 billion on the back of increasing business from customers across geographies and verticals
Operating margins in the quarter to March was 25.1 per cent
The company said it will be holding to 26-28 per cent margin band that it has set as an internal target
We are focused on our strategy
Banking, financial services and insurance grew11.6 per cent, retail at 9.9 per cent, energy and utilities at 11.3 per cent and life sciences
grew by 18.2 per cent.
"If you look at where we were last year, we had very large segments that were dragging growth
We now have a much more even portfolio and all the segments are close to (the) company average
We don't have any specific large segments as laggards," he said.
Despite concerns over an impending slowdown in the US economy and the
uncertainty due to Brexit discussions in the UK, Indian IT services firms have seen growth revive faster as global companies adopt
technology to transform business.
Outsourcing firms are also digitising the existing data from customers and businesses to offer improved
Infosys, said that the company was performing in line with the three-year strategy to accelerate its business.
Digital business, which
generates higher margins, accounted for 34 per cent of the revenue, but Parekh declined to state when the company might be able to start
growing its margin again.
Infosys for the fourth consecutive quarter saw its attrition touch 20 per cent as more trained engineers in newer
skills such as digital quit the company
Gopinathan said that the company had a digital business of $6 billion, which was growing at 50 per cent a year
It was also making investments in RD and got over 940 patents in FY19 and had filed for an additional 5,000 patents.
