Brexit has lead to uncertainty, says Infosys CEO Vishal Sikka
New Delhi, July 17 (ANI): Infosys CEO Vishal Sikka on Saturday said that the Brexit effect on the major has led to uncertainty in the near term, but expressed optimism that it may also offer revenue growth opportunities with growing demands for technology services and integration.
ANI
Jul 17, 2016 16:18 IST
New Delhi, July 17 (ANI): Infosys CEO Vishal Sikka on Saturday said that the Brexit effect on the major has led to uncertainty in the near term, but expressed optimism that it may also offer revenue growth opportunities with growing demands for technology services and integration. "It's too early to tell about the impact. So far we have not seen any impact," added Sikka. "Banks are trying to figure out what changes need to be made and what it means for near-term spending. Unfortunately some of these walls are being created due to Brexit. It does create more need for services, integration, more need for ways to interact across boundaries. So, it means opportunity for revenue growth," he added. The outlook translates into 11.7-13.2 per cent revenue growth in rupee terms and 10.8-12.3 per cent in dollar terms. Sikka's comments come a day after larger rival Tata Consultancy Services said it is keeping a close watch on the European markets. Meanwhile, Infosys has re-launched its employee stock option plan (ESOP) for junior to middle-level management staff as it looks to rein in rising attrition that stood at 21 percent in the April-June 2016 quarter. However, the company is not unduly concerned about the jump in attrition, which read 17.3 percent in the March quarter and 19.2 percent in the year-ago period. (ANI)
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