infosys

INFOSYS ANNOUNCES SALARY HIKES

After registering a 20.5% growth at Rs 4845 crore for the second quarter of FY21, Infosys has announced salary hikes, 100% variable pay and special incentives for its employees. This will include 100 % variable pay in the second quarter and one-time special incentive to its junior-level employees for the July-September quarter. Along with this, the Bengaluru based IT firm is rolling out salary increases and promotions across all levels significant from January 1, 2021.

As compared to last year, the revenue grew up by 2.2% on currency basis and digital revenue accounting for $1568 million, which accumulates 47.3 % of Infosys business.

The operating margin is at 25.4%, which is an increase of 370 basis points year on year.

Infosys has also declared an interim dividend of Rs 12 per share.

The covid 19 pandemic has hit us hard. Still, Infosys showed its strength and resilience in quarter 2, showing a healthy increase in its operation metrics, TCV is at $3.15 bn, and attribution is in single digit. Due to healthy growth, the company is giving variables and incentives to all its employees. Infosys considers its employees as a critical part of its success.

The company increased its revenue guidance to 2 to 3 % and margin guidance to 23 to 24 %.

Talking about the employed of Infosys the voluntary attrition for IT services declined to 7.8 % from18.3 % in quarter 2. The total headcount is 2,40,208, in which 37.8 % are women.

The COO of Infosys, Pravin Rao, said that nearly 995 of its employees are working from home globally and now the employee’s of Europe are returning to office as the situation is improving.

The CEO and MD of Infosys, Sahil Parekh, said that the second-quarter performance of our company is a clear reflection of our ability to help our clients on their digital transformation journeys. The data can also see this of overall revenue growth. He also gave credit to their clients who trusted them.

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