Good opportunity for mergers and acquisitions, will consider if offered: Infosys
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“While Infosys is always open to good offers for acquisitions, this is a good environment to seek such offers,” Parekh said. He said Infosys is “looking for good offers” in terms of acquisitions and mergers.
New Delhi. Infosys Chief Executive Officer (CEO) Salil Parekh has said that currently there is a good environment in the field of acquisitions and mergers. He said the information technology (IT) company would consider companies with a strong strategic and cultural proposition. “While Infosys is always open to good offers for acquisitions, this is a good environment to seek such offers,” Parekh said. He said Infosys is “looking for good offers” in terms of acquisitions and mergers. Announcing the March 2023 quarter results, a top Infosys executive said, “…and it’s a good environment.
We have very good data. If we find a company or entity that feels like a strategic as well as a cultural fit, we will consider it.” He was replying to a question whether the weak macroeconomic environment of the US and global volatility is providing a profitable environment for mergers and acquisitions. Infosys has released March 2023 quarter results this week. The company’s net profit grew less than expected in the March quarter.
After this, the company has issued a revenue growth estimate of four-seven percent for the financial year 2023-24 after the volatile situation in the US banking market. India’s second largest software services provider reported a 7.8 per cent year-on-year rise in consolidated net profit at Rs 6,128 crore for the January-March quarter. This resulted in a seven per cent decline in profit from the previous October-December quarter.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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