Salil Parekh congratulates Infoscions on strong Q3, asks them to stay focused

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Eleven days into his job, Infosys’ new chief executive Salil Parekh sent an email to Infosys employees on Saturday, congratulating them on a strong performance in the December quarter, and asked them to focus on their priorities to continue delivering strong results.

“Thanks to your tremendous hard work, we had a strong performance in Q3. I have spent the last few days meeting several of you to learn as much as I can about Infosys,” begins Parekh, in the letter addressed as “Dear Infoscion”.

Parekh’s letter is in continuation of a long standing tradition at Infosys, where the CEO sends regular correspondence to Infosys employees, starting with beginning of and during their tenure.

“Whether you are just starting out in the tech world or have been on this journey for a while, each one of you has such a passion for the work you do, such deep pride in being part of Infosys and the teams share such strong commitment to the Infosys values. It has been very energising for me,” Parekh continued.

He added that he has reached out to clients who have responded with “similar enthusiasm,” and that “their messages endorse the strong partnerships that Infosys has built with them over the years, and there is so much respect in the way they see Infosys and the work we do for them”.

He touches upon the digital disruption impacting the IT industry and all the client industries that Infosys serves.

“The opportunities in the market for us to create new areas of potential growth for them (clients) is immense,” says Parekh.

He goes on to summarise the financial performance of Infosys in the third quarter, which was announced by the company on Friday, January 12.

“At Infosys, we have the strong foundation of our business. We have over 1,100 clients that trust us. 200,000 passionate employees- like you. The results of all your work in Q3 FY 18, that we announced earlier today, stand testimony to this,” Parekh writes.

Infosys Q3 revenues grew year-on-year by 8.0 percent in USD terms and 5.8 percent in constant currency terms. Operating margin improved to 24.3 percent from 24.2 percent in Q2 FY 18. Utilization excluding trainees rose to an all-time high of 84.9 percent, and FY18 revenue guidance in constant currency was retained at 5.5 percent-6.5 percent.

“It’s important that each one of us stays focused on executing on our current priorities and reaching the goals that we’ve already set for ourselves. This will make it easier for us to move into action faster in April and achieve all that we will set out to do,” he adds.

Signing off with a wish for a Happy New Year, Parekh ended the mail with “Warm regards, Salil”.

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