Financial Daily from THE HINDU group of publications
Wednesday, Apr 27, 2005
Financial Daily from THE HINDU group of publications Wednesday, Apr 27, 2005 |
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Info-Tech
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Software IT industry growth well on track: Karnik Our Bureau
New Delhi , April 26 EVEN as results posted by some IT majors fell short of market expectation, Nasscom today stuck to its estimates for IT and ITES industry growth of 30-32 per cent for 2004-05. "We are sticking to our target of 30-32 per cent growth. The results will not have any impact on this. We do not go by market expectations; we go by demand and supply factors," said Mr Kiran Karnik, President, on the sidelines of a conference. Mr Karnik added that the software association would release its projections for 2005-06 in the next two weeks. For the quarter ended March 2005, TCS reported lacklustre results In the case of Infosys, sluggish volume growth coupled with overriding client issues had forced the company to issue lower-than-expected earnings guidance for the current fiscal. "Infosys's guidance is for the current fiscal while TCS had not issued any forecast for the reporting quarter. So, the results will not impact our industry projections for 2004-05," Mr Karnik pointed out.
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