Sanghrajka has spent 13 years in Infosys over two stints and has performed various leadership roles in the finance section.
Information Technology (IT) major Infosys escalated the legal tussle with Cognizant by filing a countersuit in a US court, accusing the Nasdaq-listed firm and its Chief Executive Officer (CEO) Ravi Kumar of anticompetitive practices by maintaining its monopoly. Infosys has also alleged that Kumar misused sensitive information that slowed the launch of the company's health care platform Helix.
Infosys Ltd on Thursday reported a 4.7 per cent rise in the September quarter net profit and raised revenue guidance after broadbased growth. Net profit of Rs 6,506 crore in July-September was up 4.7 per cent when compared to Rs 6,212 crore earnings in the same period last year. It was 2.2 per cent higher quarter-on-year, according to a company statement.
'We do not need short-term measures but long-term ones. Companies seem to have given up on the infrastructure part. Long delays are fuelling more traffic crisis.'
Infosys Technologies will soon induct two of its top executives to its board, to fill the vacancies left by the resignations of human resources and administration director Mohandas Pai and co-founder K Dinesh.
Nilanjan Roy spent 13 years with Bharti Airtel, prior to which he worked for 15 years with Unilever across their global operations.
'Binary fission will happen -- startups will lead to more startups.'
IT attrition rate is expected to be around 12% to 13% this year.
India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
According to reports, an anonymous group that calls itself "ethical employees" have written to the Infosys Board as well as American regulator US Securities and Exchange Commission with the allegations. They have claimed that they have emails and voice recordings to substantiate the same.
The matter pertains to the Rs 173.8 million severance offer given to former CFO Rajiv Bansal in October 2015 when he was allegedly forced to step down due to differences with then chief executive Vishal Sikka over the acquisition of Israeli technology firm Panaya for $200 million.
Former CFO V Balakrishnan seeks exit of Infosys chairman, co-chairman R Seshasayee, co-chairman Ravi Venkatesan, audit committee chairman Roopa Kudva and nomination committee chairman Jeffrey S Lehman.
Former finance head Bansal, who left Infosys in 2015, has gone for arbitration over severance pay
Infy to cast wide net in CEO search, may go back to 'alumni'
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
A quick look at the Q1FY23 performance of top-tier IT services players shows that they are still far away from getting a grip on managing attrition. Talent retention has eroded not only their margins but also any gains they may have made from rupee depreciation. Despite robust growth numbers and strong deal pipelines, margins for all the players -- TCS, Infosys, HCL Technologies and Wipro -- have continued to shrink at a pace that has had the street surprised.
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
While the current headcount reduction has more to do with slowing demand, the rise of artificial intelligence will impact jobs in the future.
She was among the key executives brought in by Sikka from SAP and was overseeing large deals
The country must adopt Singapore's three-pronged strategy of creating new jobs, redeploying displaced workers and constantly upskilling workers.
Infosys, for long, had been trying to strengthen its consulting practice as clients are now asking for more advisory-related work. Consulting and enterprise solution business together constitutes about 25 per cent Infosys' business today.
With the rush of growth after the pandemic slowing down, many leaders are moving to firms that may be smaller but are growing much faster and have the headroom to grow.
David, is set to join Hewlett Packard Enterprise as a senior VP for Enterprise Services Delivery.
There were no evidence of any kickbacks, inappropriate contracting or unreasonable expenses
The route to that target is clear in Sikka's mind.
Raghu Krishnan profiles the man in the eye of the storm at Infosys.
The Infosys saga shows how efforts to remote-control a company by its powerful promoter, even with good intentions, might hurt the entity, says Asish K Bhattacharyya.
Infosys, India's second largest information technology (IT) services company, is likely to book an impact of less than $1 million (Rs 6 crore) due to the financial irregularities in the accounts of its business process outsourcing (BPO) arm, which led to the dismissal of the unit's chief financial officer, Abraham Mathews earlier this week.
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
In FY16, Infosys had 48 employees in India who were paid more than Rs 1 crore in annual compensation, as compared to 111 in FY15.
Sources within the Congress, including those who have been members of the teams that drafted its 2019 and 2024 Lok Sabha poll manifestos, said the Karnataka government decision lacked any empirical basis.
New strategy for Infosys by October, says Nandan Nilekani. New chairman's other priorities: Hiring CEO, reviewing Panaya probe reports.
March was the first full quarter for Infosys under its new CEO Salil Parekh.
Between 2000, when Steve Ballmer became the chief executive officer of Microsoft, and now, when he has announced his retirement, the company's earnings have more than doubled and its revenues have increased over three-fold.
Infosys, however, feels the high level of cash is an important tool to weather tough times.
Infosys on Friday said it is in discussion with clients for a contingency plan to ensure business continuity in the event of the US immigration reforms bill becoming a law.
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U B Pravin Rao explains how the company is executing the strategy.
Ex-Infosys CFO V Balakrishnan said the IT companies 'have to get employees who understand new technologies, they have to get rid of some of the employees, who are more on the legacy, and try to attract talent which is more digital'.
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