Mohandas Pai, quits Infosys board
Friday, 15th April 2011
Infosys Technologies Ltd, India's No. 2 software services exporter, missed market estimates with a 13.7 percent fall in quarterly profit and said its human resources chief Mohandas Pai would quit the board, sending its shares 7 percent lower.
Bangalore-based Infosys expects its dollar revenue to grow 18 percent to 20 percent for the year ending March 2012. Analysts had expected the company to forecast full-year revenue growth of 19-20 percent.
"There is pressure on margins. That is a combination of both cost pressures and rupee. Even the outlook is below market expectation," said Nitin Jain, Singapore principal investment manager at Kotak Mahindra's fund management unit.
Publication : Reuters
follow us on :