n dollar terms, Wipro’s third-quarter revenue was $2.01 billion, coming in at the bottom end of its guidance.
The company had said the move was a result of the company’s expansion in the US and that it needed the chief financial officer to be based there to oversee that expansion.
"We can’t comment about others, but for TCS we have been talking about focus on platform deals and insurance space. It is an industry-defining deal and not an easily replicable one," said Gopinathan.
Parekh had said that the he would outline the strategic plans for the company in April and would hold an analyst day to share the plan with investors.
Murthy, who has been with Infosys for over 25 years, is leaving for ‘personal reasons’ the company said. His last day at Infosys will be at the end of the January.
India’s largest software exporter reported a net profit of $1.01 billion on revenue of $4.78 billion for the quarter ended December.
Epic had filed the law suit against TCS in 2014 alleging that the company had stolen its intellectual property.
Core supplier services will transfer directly to TCS and the day-to-day relationship and project management of specialist suppliers will move under the control of TCS.
Services based on new technologies account for over half of its revenue. For most of the Indian IT companies digital contributes between 20% and 25% of revenue.
A result of the slowness in banking and retail means Indian IT companies will also face slower growth in North America, their largest market.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon