Infosys recovers from day’s low even as another senior official quits

NEW DELHI: After hitting a day’s low of Rs 908.60, shares of Infosys were trading 0.73 per cent higher at Rs 915.65 in the morning trade around 11 am (IST).

However, it eventually closed at Rs 908.45, down 0.02 per cent, on Monday.

The stock reacted in the morning after the reports that Sanjay Rajagopalan, senior vice-president and head of design and research at Infosys has resigned a month after Vishal Sikka quit as CEO.

Rajagopalan was among the dozen executives whom Sikka had roped in from SAP, the company where he used to be CTO. Almost all of them have quit Infosys in less than three years of joining it.

According to a report by The Times of India, Rajagopalan was driving the design thinking charter in the company, trying to make it the central theme of Infosys's culture in order to help clients reimagine their businesses.

Among the other recent exits are Ritika Suri (July), former executive vice president handling large deals, and Yusuf Bashir (July), former managing director of the $500-million Infosys Innovation Fund.

For the quarter ended June 30, 2017, the IT major reported 3.3 per cent sequential drop in net profit at Rs 3,483 crore.

The company said net sales rose 3.2 per cent sequentially to $2,651 million in dollar terms. Revenue growth in constant currency terms came in at 2.7 per cent for the quarter.