Re rise caused Rs 2100 cr revenue loss: Infy
Re rise caused Rs 2100 cr revenue loss: Infy
Speaking to CNBC-TV18, the Infosys management shared its outlook for the future. The company suffered Rs 2100 crore loss in revenue because of rupee appreciation, it informed. 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.
It informed that the company’s Top-5 clients have grown by 19% and 4 of the 47 clients added in this quarter are Fortune 500 clients, it said.
