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Infosys Loses 2100 Crore Rs Stocks Prices Move Down

Infosys has recently made a huge loss of around 2100crore Rupees because of the rupee appreciation and decrease in USD value. Since all the main transactions of infosys is made in USD, the loss has hit the company in big levels.

The management said that scale benefits and SG & A costs have helped the company boost its margins. It informed that its one time settlement of USD 26 million for California wages have impacted the company’s margins. A Group Insurance Reversal of USD 18 million offset the wage settlement, the management said.

S Gopalakrishnan, CEO & MD, Infosys , V Balakrishnan, CFO, Infosys, SD Shibulal, COO, Infosys, TV Mohandas Pai, Ashok Vemuri & Subhash B Dhar have discussed about this situation and have assured that the companies offshore budget would grow and the clients are already increase with 4 of their 47 clients have entered the fortune 500 companies list with a total of 114 Fortune 500 clients in their clients base.

Currently the stock prices of infosys are also down and are reaching 1550Rs today in the intraday deals. Lets see if the infosys CEO stay upto their mark and make up the losses as soon as possible and the current reliance power IPO has made the markets crash with lower buyers and many investors are selling off their stocks to invest in reliance power.

Tags : fortune 500 companies list, gopalakrishnan, infosys, stock prices, v balakrishnan , 172 Views

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