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$10 bn run rate emotional milestone; optimistic for Q4: Sikka

BENGALURU, Jan 13:  Having hit the USD 10 billion mark in annual revenue run rate, Infosys CEO Vishal Sikka today termed it as “emotional and psychological milestone” for the company, saying it has performed well and is “optimistic” about the fourth quarter of the current fiscal.
The company’s aspirational goal now is to reach USD 20 billion revenue by 2020.
“The USD 10 billion mark is a huge emotional, psychological milestone for us. And yes of course, our aspiration continues to be USD 20 billion, 30 per cent margin and USD 80,000 Rev per employee and that is something that we are absolutely working hard towards,” Sikka said.
Asked if the new goal is achievable, he quipped: “What good is an aspirational goal if it is not aspirational.”
On Infosys’ show so far in 2016-17, he said: “Overall, I am happy with the performance in the first nine months of the year.”
He added: “We had a good performance in Q3 considering that when we were entering Q3, we were facing the traditional seasonal headwinds from less number of working days and furloughs as well as the one-time impact that we had from RBS…We improved our margin performance… As we enter Q4, we are optimistic about Q4.”
Traditionally, the third quarter of a fiscal is weak for Indian IT companies on account of fewer working days and holidays in two of its largest markets, the US and Europe.
Infosys has raised its annual revenue growth guidance in constant currency terms to 8.4-8.8 per cent for the current fiscal. (PTI)

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