The future starts again for Infosys

There would undoubtedl have been sighs of relief in the hallowed grounds of Electronics City, where stands the Bangalore headquarters of now third-ranked (by trailing 12 month revenues) India-centric offshore services firm, Infosys, which turned in an acceptable set of quarterly numbers. Acceptable, that is, in terms of no unpleasant surprises.

In fact, headline growth for the quarter to 30th June, at 13.6% yoy, was the highest since December 2011, though the best that can be said about sequential growth, at 2.7%, was that it was better than the prior quarter’s 1.4%. But Infosys’ seemingly depleting operating margin depleted a tad further compared to the prior quarter, at 23.5%, but was over 4 points lower than for the same period last year.

It’s now been two months since its revered founding CEO, NR Narayan Murthy, took back the company reins with son hitched to the wagon (see Infosys goes back for its future). The top team shake-up is underway, with the reported recent exit of its global sales head being seen as the only the first such change. It’s who Murthy puts in their place that will count – and a bunch of veterans would not be the right answer!