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For The First Time In Years, Infosys Delays September Quarter Results

The September quarters results will be the first earnings announcement by Infosys after Nandan Nilekani's return.

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For The First Time In Years, Infosys Delays September Quarter Results

Infosys is usually the second major IT firm after TCS to report earnings every quarter.


Highlights

  1. Infosys had earlier given October 13 as the date for Sept quarter results
  2. Investors watch for Infosys' results to gauge IT sector's growth
  3. Last month Vishal Sikka quit as CEO after a spat with Narayana Murthy
New Delhi: India's second largest IT company Infosys Ltd. delayed the announcement of its second-quarter results by more than a week, according to a filing by the company on Tuesday - a first in two years. In its earnings release for the June quarter, Infosys had given October 13, 2017 as the tentative date for announcing the financial results for the September quarter. The IT services major generally announces quarterly results within 15 days of the beginning of the next quarter but has this time set October 24 as a tentative date for releasing its September quarter results.

In 2014, Infosys had reported results for its quarter ended March on April 24.

Investors keenly watch for Infosys' results to gauge IT sector's growth in the country. Infosys is usually the second major IT firm after TCS to report earnings every quarter.

The September quarter's results will be the first earnings announcement by the company after Nandan Nilekani's return to the company as the non-executive chairman. Mr Nilekani returned last month to head Infosys after an extended spat between founder NR Narayana Murthy and former CEO Vishal Sikka which culminated in the sudden resignation of the Mr Sikka and the exit of three board members, including Chairman R Seshasayee.

Mr Murthy had repeatedly raised concerns over corporate governance in the severance pay given to former executives and had asked for the company to make public an investigation report that looked into its Panaya acquisition.

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