See very good opportunities in M&A environment: Infosys
Says will evaluate entities offering good fit
New Delhi: The current environment is throwing up good opportunities in the merger and acquisition space, Infosys CEO Salil Parekh said, adding the Bengaluru-headquartered IT firm will look at companies that offer strong strategic and cultural fit.
While Infosys is on look out at all times for good acquisitions, this is a good environment for finding it, Parekh said. Infosys is seeing ‘very good opportunities’ in the M&A environment, he observed. "...and this is a good environment. We have a very strong balance sheet, a very good way to deploy it. If we find a company or an entity which fits in strategically but also culturally, and we have a way of integrating it, we will look at that," Infosys top honcho said during the Q4 earnings conference recently.
He was responding to a question on whether the weak US macro environment and the global uncertainities are offering lucrative opportunities in the merger and acquisition space. Infosys this week reported lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24 amid the tightening of IT budgets by clients following turmoil in the US banking sector.
India's second-biggest software services firm posted 7.8 per cent year-on-year growth in consolidated net profit at Rs 6,128 crore in the January-March quarter.
