Q4 was a challenging quarter: S D Shibulal

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, April 13, 2012, 12:59 [IST]

Infosys Technologies CEO and MD, S D Shibulal says that the Q4 of 2011-12 was a challenging quarter. “We have seen contract delays and a ramp down in financial services. We are operating in a volatile environment and it is a bold thing to make a guidance,” he said.

According to Shibulal, the company was not looking at a wage hike immediately and would consider the same towards the middle of the year, when things become more certain.

Elaborating on the locals hired in the US, he said, “We have 1200 locals hired there. We believe the company is in the right direction,” he stated.

Infosys Technologies has added 52 new clients one of the highest recently. In a difficult year, the company has managed to ensure that its pricing was up 4.7%.

The Infosys Technologies stock failed to recover despite management comments and was trading lower by a staggering 9% at Rs 2511.

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