Rewiring Business Conversations: MCUBE Welcomes New CTO to Lead the Change

Rewiring Business Conversations: MCUBE Welcomes New CTO to Lead the Change

Bangalore (Karnataka) [India], July 24: Bringing decades of technology leadership across global markets, Mr. Vikas Gupta joins MCUBE as the Chief Technology Officer, effective recently. Signalling a focused push to the next phase of intelligent telephony and a customer-centric future, this appointment reflects a bold step forward.

A technologist with a rare blend of business insight and technical depth, Mr. Gupta is an alumnus of IIT-BHU and holds an MBA from Sai Sathya Institute of Higher Learning. He has contributed to the growth and transformation of firms like Infosys, CSC, NetApp, Trilogy, Unisys and Sapiens.

Having led large-scale transformation programs and multi-geo program deliveries, he made customer-centricity the core. After 28 years in global technology leadership across the USA, Europe, and South Asia, he joined MCUBE with a mission to deliver futuristic telephony with a human touch, intuitive, intelligent, and always within reach, says Vikas.

As MCUBE doubles down on building empathetic, AI-powered voice experiences at scale, the company is strengthening its technology leadership to drive this vision forward. “With Vikas at the helm of technology, we look forward to building a human-centric solution that integrates AI tech”, stated Ajay Jagtap, Director of Sales & Marketing, MCUBE.

MCUBE is an enterprise-grade cloud telephony service provider platform focused on transforming how businesses manage, track and respond to customer interactions. With the latest suite of AI-powered features, such as post-call analytics and voice bot, we support faster decision-making and a more personalized experience for all businesses.

Shares of Infosys plummet by almost 15% causing a decrease in market capitalization by Rs 73,060 crore following the earnings announcement

Shares of Infosys plummet by almost 15% causing a decrease in market capitalization by Rs 73,060 crore following the earnings announcement

Shares of Infosys, India’s second-largest software services firm, witnessed a sharp fall of nearly 15% on Monday, wiping out Rs 73,060.65 crore from its market valuation. This came after the company reported lower-than-expected growth in the fourth-quarter net profit and gave a weak revenue growth guidance of 4-7% for FY24. The stock tumbled 12.21% to Rs 1,219, its 52-week low mark, on the BSE, while on the NSE, it fell 14.67% to Rs 1,185.30, hitting its 52-week low.

Infosys’ market valuation also declined by Rs 73,060.65 crore to Rs 5,08,219.35 crore. The company’s poor performance had an adverse impact on the benchmark indices Sensex and Nifty, with the former quoting 891.04 points or 1.47% lower at 59,539.96 in morning trade. Other IT firms such as Tech Mahindra, HCL Technologies, Tata Consultancy Services, and Wipro also faced heavy drubbing, with their shares falling in the range of 3-6%.

The worse-than-expected Q4 results from Infosys with only 4-7% revenue growth for FY24 will drag down IT stocks, impacting the Nifty, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Infosys missed revenue guidance for FY23 hit by “unplanned project ramp downs and decision-making delays by some clients,” the company said. With global macroeconomic uncertainties looming, it has given a subdued 4-7% revenue growth forecast for FY24, with top management cautioning that “the environment remains uncertain.” Infosys had last given single-digit revenue guidance in FY19.

Infosys’ Q4 year-on-year growth was 8.8%, and the sequential decline was 3.2% in constant currency terms. Revenue rose 16% year-on-year in the fourth quarter of FY23 to Rs 37,441 crore but represented a decline of 2.3% when compared to the December 2022 quarter. The revenue growth in constant currency for FY23 came in at 15.4%, lower than the guidance. During the Q3 earnings announcement in January this year, Infosys had raised its FY23 revenue guidance to 16-16.5%, against the previously projected band of 15-16%.

In conclusion, Infosys’ latest report card has been disappointing, with the company’s poor performance being attributed to unplanned project ramp downs and decision-making delays by some clients. Its subdued revenue growth forecast for FY24 is a reflection of the uncertain business environment, and the adverse impact on the IT stocks will be felt across the market.