Software Superpower: I continue to insist that the software services story is over, however many are in a state of denial. Infosys declared results this morning, Income was Rs 6,198 crore (Rs 61.98 billion) for the quarter ended June 30, 2010; QoQ growth was 4.3 per cent; YoY growth was 13.3 per cent. Net profit after tax* was Rs 1,488 crore (Rs 14.88 billion) for the quarter ended June 30, 2010; QoQ decline was 7.0 per cent; YoY decline was 2.4 per cent. Earnings per share* declined to Rs 26.06 from Rs 26.76 in the corresponding quarter of the previous year; QoQ decline was 7.0 per cent; YoY decline was 2.6 per cent. Please refer to my previous article on the Infosys Bubble. BTW many employees of Infosys have reported that Mr Kris is a very non-inspiring leader. He gets to head Infosys not because he is capable to be CEO but was part of the founding team. Indian companies need better succession planning.
Global Superpower: Are Educated people street smart. Our Prime Minister has a Ph.D and spends time with leaders of G8, G20 etc when most of the country is miserably poor. UNDP has reported that 8 Indian states are acutely poor. There are more poor people, 421 million people in eight Indian states than in the 26 poorest African countries combined. Someone needs to advise him on where to focus his energy. Not surprising that the Naxal movement is gaining momentum.