Currency fluctuation a major concern: Infosys
Gopalakrishnan said that growth has been broad-based and led by US and BFSI clients. Check out the top gainers, losers and recommendations from analysts
By Agencies |
BANGALORE: Infosys CEO and MD Krish Gopalakrishnan said that currency fluctuation is a major concern for the company presently. Infosys stocks were trading flat at the BSE. (Watch)
Gopalakrishnan said that growth has been broad-based and led by US and BFSI clients. Technology majors TCS and Infosys had reported increase in dollar revenues of 6.6% and 6.8% respectively for the third quarter, beating market expectations.
"Deficit was a major worry for clients and manufacturing sector still looked weak," said Gopalakrishnan. Driving the turnaround are sectors like financial services, manufacturing, telecom and media, where global majors offshored services to cut costs.
NASSCOM last week forecast India's software and services exports will post double-digit export revenue growth of 13 to 15 percent to hit up to $57 billion in the year to March 2011. The extent of the downturn in the United States -- which is the main market for India's software giants -- is still unclear.
India's software exports growth projected for next year is still far below the blistering 28 percent export revenue rise clocked in the financial year 2006-07.
Indian software companies, whose breakneck growth has been an important driver of the country's economic modernisation, were hit by the global slump as customers put many projects on hold.
The sector accounts for 25 percent of India's overall exports.
Gopalakrishnan said that growth has been broad-based and led by US and BFSI clients. Technology majors TCS and Infosys had reported increase in dollar revenues of 6.6% and 6.8% respectively for the third quarter, beating market expectations.
"Deficit was a major worry for clients and manufacturing sector still looked weak," said Gopalakrishnan. Driving the turnaround are sectors like financial services, manufacturing, telecom and media, where global majors offshored services to cut costs.
NASSCOM last week forecast India's software and services exports will post double-digit export revenue growth of 13 to 15 percent to hit up to $57 billion in the year to March 2011. The extent of the downturn in the United States -- which is the main market for India's software giants -- is still unclear.
India's software exports growth projected for next year is still far below the blistering 28 percent export revenue rise clocked in the financial year 2006-07.
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Indian software companies, whose breakneck growth has been an important driver of the country's economic modernisation, were hit by the global slump as customers put many projects on hold.
The sector accounts for 25 percent of India's overall exports.
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