Seems, the renowned technology company Infosys has started showing signs of cracking. A recent report has revealed that Infosys’s growth may slow down by next year because of a possible reduction in technology spending by clients.
S Gopalakrishnan, co-Chairman, Infosys, has said in a recent interview that the company is facing "volatility" in customers' decision-making. There is s significant dip in sales growth at the Bangalore-based company in past four quarters.
Reliable aides informed that Infosys has decreased its forecast for sales in dollar terms in the year ending March 2012 to a range of $7.08 billion to $7.2 billion, from a range of $7.13 billion to $7.25 billion it estimated in July.
It is found, various IT companies are prompted to reduce their outsourcing contracts, which is a significant responsible factor for this global economic slowdown.
Despite economic slowdown, Infosys also reported some irrelevant factors such as falling revenue from one of its largest clients, British Telecom and a relatively higher tax rate.
However, one cannot deny the fact that when Infosys was showing a downward trend; its rivals including TCS, Cognizant and HCL were consistently delivering growth- be it through increasing share of clients’ wallets or aggressively pitching large buyouts, something Infosys has always overlooked.
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