Human capital is mostly ignored by accountants, believes the management of India's second-largest information technology services provider, Infosys Technologies. Arguing that this should not be the case, the company has used the 'Lev & Schwartz' model and pegged the value of each employee at Rs 97 lakh (Rs 970,000), primarily based on the potential value of their future earnings for the company.
The Bengaluru-headquartered company, which derives close to 26 per cent of its revenues from Europe, mostly from the UK, believes this approach will help it increase its footprint in non-English speaking European countries.
The company reported consolidated net profit at Rs 1,780 crore (Rs 17.8 billion) as against Rs 1,737 crore (Rs 17.37 billion) in previous quarter, a growth of 2.48 per cent (based on IFRS - International Financial Reporting Standards).
Infosys Technologies, India's second-biggest software developer, said it plans to raise the share of its revenues from Europe to counter a slowdown in the US, the world's biggest economy, which fetches it about 60 per cent of its sales.
Trading sentiment in the equity market will largely be driven by domestic corporate quarterly earnings, any update related to US tariffs and foreign fund movements this week, analysts said. Investors would also focus on world market trends, movement of global oil benchmark Brent crude and the rupee-dollar trend for further cues, experts noted.
Infosys Technologies Ltd on Tuesday said it is among the eight international companies chosen to be in the first annual list of 'top brands with a conscience.'
Nandan Nilekani is stepping down to take up a bigger cause -- heading a government project to provide a unique identity to each of India's citizens. S Gopalakrishnan, the CEO and MD of Infosys and a co-founder of the company, tells Bibhu Ranjan Mishra what Nilekani's exit means for the company.
Infosys employees understand the environment in which we are operating. They interact with the clients, they see the situation, says Kris Gopalakrishnan.
Software outsourcer Infosys Technologies on Tuesday said its cash and cash equivalents stood at Rs 14,449 crore (Rs 144.49 billion) at the end of December quarter, an increase of 52 per cent over the corresponding period a year-ago.
Plans by Infosys Technologies Ltd, India's number two software service exporter, to enter the booming China market have become stuck in bureaucratic red tape, the company's chairman said on Tuesday.\n
The company would focus only on expanding its existing facilities at an investment of around Rs 600 crore (Rs 6 billion), said S Gopalakrishnan, chief executive officer and managing director.
Infosys announced its first quarterly results on Friday. Th software major's Q1 net stood at Rs 1,527 crore, up 17.28%.
Infosys Technologies, India's second largest information technology services company, which is an early bird on campuses this year, says it will offer jobs to 13,000 freshers for 2010-11.
'A major IT services firm that previously had a demand of 1,000 to 2,000 employees now requires 7,000 to 8,000 -- a sizeable jump from the previous quarter.'
The Nifty IT Index, the gauge for the performance of information technology (IT) stocks, was the worst performer on the stock exchanges on July 29, a day after Infosys posted lower-than-expected earnings growth for the June quarter and sharply cut its revenue growth guidance for 2023-24 (FY24). The IT index was down 4.1 per cent, its biggest one-day fall in three months. The decline was led by Infosys, with its shares plunging nearly 8 per cent, followed by HCLTech (-3.2 per cent), Wipro (-3.0 per cent), and TCS (-2.7 per cent).
Infosys reported revenues of Rs 1,749.33 crore (Rs 17.493 billion) for the period between July to September, an increase of 51.88 per cent over Rs 1,151.80 crore (Rs 11.518 billion) during the same period last year.
"There is significant opportunity over the next few years. Only 25 per cent of the full leverage of IT is understood and used. The impact of IT will be significant in the next 25-30 years," said Infosys Technologies Chief Executive Officer and Managing Director S Gopalakrishnan. He added that there is still money to be made and wealth to be created in this sector.
Infosys Technologies Ltd, India's largest listed software services exporter, said on Thursday its quarterly net profit rose 23 per cent, aided by growing outsourcing business, but the result fell short of market expectations.
From the Sensex pack, Nestle India, HCL Technologies, Tech Mahindra, Bharti Airtel, Titan, Infosys, Asian Paints, NTPC, Bajaj Finserv and Sun Pharmaceuticals were among the laggards. State Bank of India, IndusInd Bank, Zomato, Power Grid, ICICI Bank, Tata Motors, Mahindra & Mahindra, Tata Consultancy Services and Adani Ports were the gainers.
The software major Infosys Technologies on Friday said it has been served with the notice in second sexual harassment lawsuit filed against the company and its former director Phaneesh Murthy during the quarter ending December 2003.
From the Sensex pack, IndusInd Bank, Infosys, Bajaj Finserv, Mahindra & Mahindra, Zomato, Hindustan Unilever, Power Grid, Axis Bank, UltraTech Cement, Adani Ports, and Tata Consultancy Services were among the laggards. On the other hand, Sun Pharmaceuticals, ICICI Bank, Bharti Airtel, HCL Technologies, Maruti Suzuki India, Larsen & Toubro, Reliance Industries, Kotak Mahindra Bank and Titan were the gainers.
IndusInd Bank was the biggest gainer in the Sensex pack, rising 3.25 per cent, followed by Tech Mahindra, Wipro, Bharti Airtel, HCL Technologies, Axis Bank, HDFC Bank, RIL, TCS, L&T and Infosys. State Bank of India, NTPC, Maruti, Bajaj Finserv, Tata Motors and Power Grid were among the laggards, slipping up to 2.94 per cent.
The $4.6-billion company, which had earlier made an unsuccessful bid to acquire SAP consulting firm Axon that was latter acquired by HCL, would prefer acquiring companies overseas where growing organically is a little challenge, the Bangalore-headquartered company's CEO and MD S (Kris) Gopalakrishna said.
Among Sensex scrips, Bharti Airtel, Titan, NTPC, State Bank of India, ITC, Tata Steel, Mahindra & Mahindra and Tata Motors were the major laggards. Adani Ports, Infosys, Axis Bank, HCL Technologies, Tech Mahindra and IndusInd Bank were among the gainers.
nfosys Managing Director and CEO S (Kris) Gopalakrishnan speaks about the company to Business Standard.
A day after a record-breaking run, stock prices continued to soar on Wednesday amid expectations of better-than-expected earnings by IT bellwether Infosys Technologies on Thursday.
In yet another example by an Indian corporate to become cost-sensitive, IT bellweather Infosys Technologies is asking all its employees to go in for a one-time cost savings of $10 each. This initiative is expected to help the company, which has over 100,000 people on its rolls, to incur a cost saving of $1 million (around Rs 5 crore), which is a 'substantial amount' according to the company.
The Indian IT major spent a total of Rs 15 crore (Rs 150 million) towards the failed deal, but in the process received Rs 33 crore (Rs 330 million) from the UK firm, as inducement fees. Two of India's leading software services firm were in the race to acquire the London Stock Exchange-listed Axon, but last month HCL Technologies outbid Infosys and acquired the British firm.
The company's total income stood at Rs 5,821 crore, showing an over six per cent rise, at the end of the September quarter of the current fiscal.
From the 30-share Sensex pack, Mahindra & Mahindra, Infosys, HCL Technologies, Adani Ports, Bajaj Finance, Tech Mahindra, Titan, Tata Consultancy Services, Reliance Industries and Power Grid were among the laggards. On the other hand, State Bank of India was the only gainer.
From the Sensex pack, Zomato, IndusInd Bank, NTPC, Infosys, HCL Technologies, Titan, Power Grid, Hindustan Unilever, Tech Mahindra and ITC were among the gainers. On the other hand, Reliance Industries, Nestle India, Tata Motors, Adani Ports, Tata Steel, UltraTech Cement and Kotak Mahindra Bank were the laggards.
Joining the debate on working hours, IT services company Capgemini India's chief executive Ashwin Yardi on Tuesday advocated 47.5 hours work per week, and was against sending e-mails to employees on weekends. He was speaking at Nasscom Technology and Leadership Forum (NTLF) in Mumbai.
