INFOSYS DISAPPOINTS Q1
The company's first-quarter operating margin fell 100 basis points to 29.9%. Share is already down close to 10% . This Shocking result has come when rupee was at all time low during last quarter.
Generally When Rupee depreciates it supports the IT companies earning.
In an unprecedented move Infosys didn't give future guidance for q2. Which clearly stats there is no clarity of thought where the company his heading. Or may they are expecting further weakness in performance.
Ceo Shibulal expressed his concerns stating lack of confidence among clients remains the key issue. Is he mentioning clients are confident about the new management. May be time will tell the answer.
History is repeating in Indian silicon valley. When Steve jobs of Apple left the company it, Apple lacked vision. Fortunately Steve was young enough to come back put apple back in track. Murty can't retun back. Lets wait for some ray of home.
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