In­fosys beats TCS in 2nd qtr rev­enue growth

BFSI Ver­ti­cal Does Well, But Re­tail Re­mains A Con­cern

The Times of India (New Delhi edition) - - Times Global - TIMES NEWS NET­WORK Con­stant cur­rency Net profit growth Em­ploy­ees added

Ben­galuru: In­fosys re­ported bet­ter growth num­bers than TCS in the quar­ter ended Septem­ber. This is the sec­ond suc­ces­sive quar­ter where it has beaten TCS, af­ter lag­ging it for a long time. The com­pany fired on all cylin­ders, with the flag­ship bank­ing, fi­nan­cial ser­vices and in­surance (BFSI) ver­ti­cal do­ing par­tic­u­larly well. Europe as a ge­og­ra­phy to be softer. There is some im­pact of Brexit,” Parekh cau­tioned.

The com­pany’s shares on the NYSE were down a lit­tle in morn­ing trade af­ter ris­ing ini­tially. The re­sults were an­nounced af­ter mar­kets closed here, but the stock ended Fri­day’s trade 4% higher at Rs 816, while TCS’ was down 0.9% at Rs1,987. In­vestors seem to have in­creased ex­po­sure to In­fosys be­cause of TCS’ tepid re­sults.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.