Contours Of A Slide
- Infosys’s performance under Vishal Sikka has been subdued, with no double-digit growth and some negative quarters
- Net Profit for Q1 of 2017-18 fell by 3.3 per cent. Revenue for the quarter also fell by 0.2 per cent as compared to last year.
- In Q4 of 2016-17, net profit dropped by 2.83 per cent and revenue dropped by 0.89 QoQ and 3.44 per cent YoY
- During Sikka’s tenure Infosys has performed worse than all the previous CEOs of the company
- Sikka inherited a company under tough times. Adverse market conditions, shift to automation, AI, robotics and digital hitting it badly.
- But total revenues increased from $8.2 billion to over $10 billion during Sikka’s tenure. Attrition was down significantly.
Corporate tussles have rarely been as public as the one between Infosys founder and former CEO N.R. Narayana Murthy and MD and CEO Vishal Sikka. That wrangle, which led to the latter’s resignation, has brought to focus many issues at the company which once led India’s IT sector.