We are cautiously optimistic: Infosys

BANGALORE, INDIA: Speaking to the investors during the 29th annual general meeting here today, founder-chairman of Infosys Technologies Limited, N.R. Narayana Murthy said the recovery from the global financial crisis may be slow and weak.

“I look ahead with guarded optimism,” he told the investors. “The global output is expected to grow by more than four per cent. Early signs of coming out of the recession cannot be taken for granted. Nine months since the upturn, the global GDP seems to be growing at around four per cent.”

Talking about the company’s performance, V. Balakrishnan, CFO of the company, said that all is well and Infosys had a profitable growth.

He said, “We managed one of the toughest years in the industry very well. We ensured shorter term of receivable from the clients. Industry said that in the present scenario, there is credit-risk from the clients and that the cash is not king, but now cash is God.”

He shared that there has seen currency movement over the year by 5-10 per cent and around 15-20 per cent in between the quarters. But the company managed to add 141 clients over the year. He emphasized that the clients have been looking at Infosys as transformational partners.