Digital now a critical element of the market: Infy CEO
BENGALURU: Underlining the huge potential of the digital business, InfosysBSE 0.26 % CEO and MD Salil Parekh today said it is a critical element of the market.
Addressing journalists while announcing the third quarter results, Parekh said, “We are very clear in any case that the market has evolved and digital is a critical element of that market. Equally with regard to consulting in terms of focus, we see lot of buying in the business today.”
Elaborating further, Chief Operating Officer Pravin Rao said that over 25 per cent of the company’s revenue comes from digital segment.
“Over 25 per cent of our revenue comes from digital. Last couple of quarters we started talking about new services and software. This quarter it constitutes about 11.6 per cent — over 6.8 per cent growth over previous quarter. It is growing at a much faster rate,” said Rao.
Chief Finance Officer M D Ranganath said that there has been 23 per cent growth in free cash flow over the last nine months. It was purely generated from operations, he added.
Asked how he will build a strong relationship with the company’s founders in the wake of previous CEO Vishal Sikka’s exit on an unpleasant note, Parekh said, “This is a phenomenal company started by people who had tremendous vision. They have created something which will last very longer. Everything I have seen in the company reconfirms my belief. My hopes and expectations will be to connect with the founders and respect them.”