Infosys makes it clear that it is focused on growth despite allegations
By MYBRANDBOOK
In a bid to win investor confidence, Infosys has made it clear that it was focussed on growth, despite allegations made by whistleblowers in two anonymous letters recently.
Addressing analysts at the company’s Electronics City campus in Bengaluru, along with the entire senior management, Nandan Nilekani, co-founder and chairman of Infosys came out to defend the company’s accounting and corporate governance standards by saying rather dramatically that “…even God could not change the numbers in the company”.
He further said that the goal was to conclude the investigation in an appropriate manner, but could not give a timeline for its completion. Nilekani added that he would remain with the company “…till I am dispensable”.
The senior management conveyed that the building blocks for future growth were in place, which would be supported by a strong margin discipline.
Referring to the anonymous letters and reiterating that no further evidence was shared with the company through email, attachments or recordings, Infosys said that it followed a process while dealing with such complaints and that in FY19 too it had received several such complaints.
Salil Parekh, CEO of Infosys, along with COO UB Pravin Rao and CFO Nilanjan Roy, shared operational details of the company’s transformative journey, large deal engine and capital allocation policy with analysts.
Parekh shared in his presentation that he is focused on transforming Infosys. He said that enterprise, data and cloud would be the three mega drivers of growth for the company in the coming days. Now that the investment phase of the company was over in FY19 and capabilities have been built, Parekh said that he was strengthening the large deals engine, which helped the company report double-digit growth for four straight quarters.
Shares of Infosys had fallen by over 16% following the disclosure made by the company on October 21 pertaining to two whistleblower letters. The management told investors on Wednesday too that business was being run as usual despite all distractions and that the company was focused on clients and employees.
Shares of the company rose 2.4% on Wednesday.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
ADITYA INFOTECH LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
BEETEL TELETECH LTD.
POLYCAB INDIA PVT. LTD
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
Icons Of India : ALOK OHRIE
Alok Ohrie leads Dell Technologies’ India business, overseeing Sales...
Icons Of India : Arjun Malhotra
Arjun Malhotra, the Chairman of Magic Software Inc., is widely recogni...
PARTNER SPEAKERS
PSU
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
C-DAC - Centre for Development of Advanced Computing
C-DAC is uniquely positioned in the field of advanced computing...
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - JAY CHAUDHRY, CEO – Zscaler
Jay Chaudhry, an Indian-American technology entrepreneur, is the CEO a...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
