Bengaluru, Apr 14: It has been reported that IT company, Infosys is to have a nearly flat revenue growth in constant currency terms in the fourth quarter and has also given a muted revenue guidance for the current fiscal year thus pointing out the environment that is becoming challenging for Indian IT service companies. On Thursday on the BSE, the shares of the company fell 3.86% to close at Rs 931.40. The company has said that it expects to grow between 6.5% and 8.5% in currency terms. On reported basis, the growth is projected at 6.1%-8.1% that is lower than the last fiscal’s 8.3% growth. Reacting to this, Infosys CEO, Vishal Sikka has stated that unanticipated execution challenges and distraction do affect their overall performance. Over the past years, the company has slowed down then they had initially predicted, they provided revenue growth guidance of 11.5% to 13.5% and such growth will make his 2021 target of hitting the $ 20 billion revenue, operating margins of 30% a distant dream. On the other hand, Chief financial officer M D Ranganath said that they had held margins more successfully than their competitors and also have a sharp focus on operational efficiency.
