PremiumInfosys Ltd., Asia’s second-largest software exporter, said it’s getting large deals despite fighting whistle-blower allegations against Chief Executive Officer Salil Parekh.
Anonymous whistle-blowers last month alleged that Parekh used “unethical practices" to boost revenue and profit in recent quarters. The whistle-blowers also said recent big deal wins may have come with negligible margins. They asked the board of the Indian company to investigate and take action, offering to provide emails and voice recordings to support their allegations.
“Customers are supportive, we have proactively reached out" to clients, Chairman Nandan Nilekani said on a call with analysts. Despite the “distraction" the company has complete focus on the business, he said.
The company’s shares rose 2.6% to 714.2 rupees, poised for the highest close since October 18, in noon trade. Gains in the stock helped the benchmark S&P BSE Sensex reverse losses of as much as 0.5%.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
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