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Shibulal explains why Infosys' growth will be slow

July 11, 2014 12:29 IST

Photographs: Reuters

Faced with challenges in the public sector, country's second largest software services firm Infosys on Friday said it may see slower pace of growth in its India business revenues as it refocuses on its strategy.

"We entered India with certain strategic priorities only three years back.

“We have certain challenges in working with public sector bodies in Indian government.

“So we are refocussing our India business here.

“We will continue to focus here, India is strategic to us, but it needs a little more pace," Infosys chief executive officer and managing director S D Shibulal told reporters in Bengaluru.

Please . . .

Shibulal explains why Infosys' growth will be slow

Image: N R Narayana Murthy.
Photographs: Courtesy, Infosys

For April-June quarter of 2014-25, India region accounted for 2.4 per cent of the company's total revenues of Rs 12,770 crore (Rs 127.7 billion).

In the January-March quarter of 2013-14, it was higher at 2.6 per cent of the total revenues of Rs 12,875 crore (Rs 128.75 billion) for the period.

North America, which accounts for the lion's share of most of India's software exports firms, accounted for 60.8 per cent of Infosys' revenues during the quarter.

Europe contributed 24.5 per cent of the quarter's revenues, while Rest of World accounted for 12.3 per cent.

Please . . .

Shibulal explains why Infosys' growth will be slow

Image: Infosys campus, Bengaluru.
Photographs: Amit/Wikimedia Commons

"Demand environment in North America is stable and the pipeline is also stable. We need to see all round growth.

“Our focus will continue to be to create growth in all the markets," he added.

According to the company's filing, North America revenues grew by 3.7 per cent in the said quarter compared to the January-March 2014 quarter.

Europe revenue declined by 1.1 per cent sequentially, while that from India declined by 6.9 per cent sequentially.      

Rest of the world grew by 1.9 per cent sequentially.

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