SerpApi.Org
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, July 23 (Reuters) - Infosys named company veteran Ashiss Kumar Dash as its next CEO on Thursday, tapping a three-decade insider to lead India's No. 2 IT firm through an AI-driven upheaval reshaping the technology services industry.
Dash, who heads the company's energy vertical, will take over in April 2027 for a five-year term after CEO Salil Parekh steps down at the end of his tenure in March next year, the company said.
"Ashiss Kumar Dash is a safe, execution-focused appointment at a time when Infosys needs stability as much as transformation," said Phil Fersht, CEO of tech research firm HFS Research.
"He understands the firm's culture, clients, and delivery engine, which should reassure customers and investors after a period of uncertainty."
The Bengaluru-based firm narrowed its fiscal 2027 revenue growth forecast to 1.5%-3.0% from 1.5%-3.5%, citing cautious client spending amid AI-driven disruption. Analysts had expected growth of 2.5%-4.5%.
Revenue rose 14% to 482.11 billion rupees ($4.99 billion), missing the analysts' average estimate of 483.67 billion rupees, according to data compiled by LSEG. Net profit rose 12.2% to 77.69 billion rupees, while analysts expected 78.32 billion rupees.
Rivals Tata Consultancy Services and HCLTech beat quarterly estimates earlier, aided by strong financial services demand and a weaker currency.
AI services accounted for 8.2% of Infosys' revenue currently compared with 5.5% in the December quarter.
Large order bookings, or deals over $30 million, stood at $3.6 billion during the quarter, compared with $3.2 billion in the previous quarter and $3.8 billion in the year-ago period.
($1 = 96.5725 Indian rupees)
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Nivedita Bhattacharjee and Dhanya Skariachan)
