Infosys announced today that it will implement salary increases and promotions at all levels beginning January 1. Infosys also said that it is awarding a 100% variable salary along with a special incentive for the second quarter. Infosys had more than 2.40 lakh employees at the end of September. Infosys made this announcement when reporting its quarterly results.
“Infosys strength and resilience were fully visible in Q2 with operating metrics witnessing healthy uptick, broad-based growth, the highest TCV ever at $ 3.15 billion and churn reduction. to single digits, ”said Pravin Rao, COO. they have been a fundamental part of our success. In recognition of their stellar performance, we are awarding a 100% variable payout along with a special incentive for the second quarter. In addition, we are implementing salary increases and promotions at all levels starting January 1. “
In the September quarter, voluntary attrition for IT services fell to 7.8% from 18.3% a year earlier, according to Infosys.
Rival TCS had announced last week that salary increases for its employees will be implemented from October 1.
Infosys Ltd, India’s second-largest software company, today reported a 20.6% increase in earnings for the September quarter, helped by growth in customer demand for its new-age digital services, like the cloud, data and analytics during the pandemic.
Bengaluru-based Infosys’ consolidated net profit rose to ₹4,845 crore of ₹4,019 crore a year earlier. Revenues increased to ₹24,570 crore of ₹Rs 22,629 crore in the quarter with an operating margin of 25.4%.
“Our performance in the second quarter is a clear reflection of our ability to assist clients on their digital transformation journeys. Our digital and cloud capabilities, combined with intense customer relevance, are helping us achieve differentiated results in the marketplace, as seen in overall revenue growth of 2.2% YoY and growth of 25%. 4% of digital offerings, now accounting for 47.3% of revenue, “said CEO and MD Salil Parekh.
“The increase in revenue and margin prospects for fiscal year 21 is due to the continued confidence that customers have in us. I am extremely proud of our team for achieving these results in challenging business conditions globally. “
Infosys today revised its fiscal year 21 revenue growth guidance revised up to 2% -3% in constant currency. It also revised its operating margin guidance for fiscal year 21 revised up to 23% -24%.
Infosys today declared a dividend on account of ₹12 per share and set October 26, 2020 as the registration date for the interim dividend and November 11, 2020 as the payment date.
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