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This Diwali, brighter for software majors

business Updated: Oct 16, 2009 11:36 IST
Highlight Story

With the festival of lights just around the corner, things this year are looking brighter and sweeter for the software majors compared to one that went by, when they were struggling to grapple with the effects of the global meltdown.

The mood among most firms is upbeat, "much better, with the worst behind us", they said.

For the HR Head of IT bellwether Infosys, Mohandas Pai "the mood is very positive. We've had a good quarter. We
promised a salary hike to our employees from October 1 and that is already on the roll", he told PTI.

Backed by an improved economic climate and slow easing of pricing pressure, India' second largest software exporter
posted a net profit of Rs 1,540 crore for the quarter ended September 30, 2009, registering a year-on year growth of 7.5 per cent.

For Wipro Technlogies, positive vibrations of the festival, which is a harbinger of happiness and well-being, are
manifesting itself in the market place.

"The positive vibes of the festive season have been reflected in the market sentiments and the workforce in
general", said Manish Dugar, Chief Finance Officer (CFO) Wipro Technologies.