Infosys COO U B Pravin Rao has been named as the interim-MD and CEO of the firm.
Infosys aims to achieve an aspirational goal of $20 billion in topline by 2020.
said its consolidated net profit has gone up by 7 pc to Rs 3,708 crore while total income in the October-December quarter rose 8.3 pc to Rs 18,093 crore.
Infosys continues to see challenges in the short-term in the insurance space.
The CEO's compensation included a fixed salary component of Rs 6.07 crore, variable pay of Rs 10.96 crore and perquisites worth Rs 7.64 crore.
It has also proposed that CEO and managing director Salil Parekh be granted annual performance-based stock incentives in the form of restricted stock units worth Rs 10 crore under the 2019 Plan.
The $140-billion Indian IT market is facing challenges on multiple fronts including stricter visa regime in key markets and shortage of skilled manpower for new technology areas like data science.
Pai argued that at a time when the salary for entry level software engineers had not been raised in the IT industry in India for the past seven years, it was totally wrong to hike the compensation for top-level executives.
Revenue rose 23.4 per cent to Rs 1,655 crore
Infosys on Friday posted a 3.5 per cent rise in quarterly net profit, lagging analyst estimates.
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