New Delhi, Aug 14 (PTI) Salil Parekh, chief executive officer (CEO) of information technology company Infosys has lauded the founders of the company for building an “incredible organization”, exuding confidence that a firm that has always stood firm will be able to achieve this stability. Will be successful in maintaining it going forward.
Parekh, who took charge after a dispute between the Infosys founders and the then management a few years ago, has been instrumental in steering the company towards stability. He believes Infosys will be in a better position over the next several years to take advantage of the technology-led growth opportunities that arise.
Parekh took over the reins of Infosys in January 2018 amid a tussle between the board and the founders, including NR Narayana Murthy, over governance issues. Due to this controversy, the then CEO Vishal Sikka had to exit from Infosys.
Asked whether Infosys has left that period behind, Parekh told PTI in an interview, “We are in a good and sustainable position. I think the company has always been strong.
“We have seen the founders build an incredible organization. And so the company has always been in a good position. We look forward to continuing this stability.”
The company recently surprised the market by raising its revenue growth forecast for FY 2022-23 to 14-16 per cent, citing strong demand and better supply.
The company’s consolidated earnings have grown exponentially in the last five years. It was Rs 73,715 crore in the financial year ended March, 2018 which has increased to Rs 1,23,936 crore in March, 2022. The consolidated net profit increased from Rs 16,029 crore to Rs 22,110 crore during this period.
Asked about the big challenges and opportunities ahead, Parekh said that while Infosys has a very strong foundation, there are indeed incredible growth opportunities emerging in the technology sector over the next several years as well.
The top Infosys executive said he is very optimistic about the state of the industry and Infosys’ position in it. “I think we are in a very good position to take advantage of this,” he said.
Source: navbharattimes.indiatimes.com
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