The Rupee has not appreciated significantly during the latest quarter. As a result, Infosys is likely to continue with its well known track record of underpromising and overdelivering.
India Infosys sees steady margins, no subprime hit Nov 29, 2007(Reuters) - India's No. 2 software services exporter, Infosys Technologies Ltd expects to maintain margins in coming quarters and the subprime crisis had not hit IT spending by U.S. clients, a top official said on Thursday.
"Till today we have not seen any pull back on technology spending or lack of interest by our clients owing to subprime crisis," T.V. Mohandas Pai, the firm's director for human resources, told reporters at a business conference.
U.S. customers, including financial firms, account for more than half of the company's business.
Infosys has successfully coped with the appreciation of the rupee, which has gained more than 12 percent against the dollar this year, he said, but did not elaborate.
"We have a great revenue model and hope to maintain margins as per target in coming quarters," he said.
Shares of the company closed flat at 1,569.60 rupees in the Mumbai market, which was up 0.3 percent.
(Reporting by Tamajit Pain, Editing by Mark Williams)
gee without wto rule cheating tax holidays, currency cheating exchange rates, yeah margins will be great until that a housing mkt in it's main export mkt going falls off the cliff causing massive recession in it's largest industry sector. Listening to the colies spin the facts is reminds me of Jack Nickelson's character in mars attacks trying to convince investors fleeing the attacking flying saucers that even in a time of inter planetary war peps just want to roll the bones. Well were under attack of colies (software quality going down the tubes colie install scripts that can't link binaries) yet with unemployment rising I don't see more colie demand needed to keep margins up. And when they lose those tax holidays and phoney exchange rates well watch out below.