IT firms third quarter profit seen up

IT Companies 280x300 IT firms third quarter profit seen upHaving unclear outlook, the Indian software companies are facing a difficult situation for a slower pace of outsourcing contracts in 2012.

While the quarterly earnings this week has kicked off by the IT companies because of the lingering debt crisis in Europe, their biggest market after the United States, their outlook is hazing.

However the bigger rival of Tata Consultancy Services Ltd , Infosys Ltd, the country’s No.2 software services exporter and third-ranked Wipro Ltd , they get three-quarters of their revenue from the United States and Europe.

The research firms Gartner Inc revealed a statement, Global spending on IT will raise at the slowest pace around 3.7 percent against its earlier estimate of 4.6 percent in three years in 2012 as Europeans, worried about the region’s sovereign debt crisis are cutting back on investments. Read More

“No need to worry over fall in rupee”, says Narayana Murthy

narayana murthy “No need to worry over fall in rupee”, says Narayana MurthyWe are aware of the present situation of Indian currency in the international market. Indian rupee is weaker now as compared to US dollar.

But, after the regular fall in the value of rupee, IT major Infosys ‘ founder N R Narayana Murthy said it should not be seen with negativity.

While talking to media in an interview, Mr. Murthy said, “Value of rupee keeps fluctuating. This is normal. At some point of time value of Rupee was at 39 against a dollar …”

Infosys’s co-founder was talking to media on sidelines of award function organized by Indore Management Association where he was awarded with ‘Lifetime Outstanding Achievement Award’.

Further addressing to media, he said, international economic scenario is not in better position as developed economies are not doing their level best. Read More

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