The two IT majors -- Infosys and TCS -- delivered disappointing results for the fourth quarter of the 2022-23 financial year (Q4FY23). Poor macro conditions and weak sentiment in the banking, financial services and insurance (BFSI) space accounted for the miss. For TCS, revenue in constant currency (CC) terms grew at 0.6 per cent on a quarter-on-quarter (QoQ) basis. Weakness was visible in North America, primarily due to deferred discretionary spending.
Last week, its global head of strategic sales, marketing and alliances Prasad Thrikutam resigned from the job marking the 11th senior management executive exit from Infosys since Murthy's return.
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.
nfosys chief financial officer Ranganath M said there was confusion in visa costs.
H-1B visa is a non-immigrant visa, which allows US employers to temporarily employ foreign workers in speciality occupations
It is perhaps rare for a senior corporate executive to announce his resignation on Twitter.
During the year, he received a total compensation of $1.3 million (Rs 7.8 crore), including a salary of $844,453, bonus and incentives of $281,415 and other compensation of $154,143.
We require a very pivotal kind of leadership now from the central bank in order to work with the government
The new chairman assumes his role at perhaps one of the most challenging times for both the company and the industry.
Gopalakrishnan, who is the immediate past President of CII, is the Chairman of the summit.
Sikka said recent initiatives had started yielding dividends.
The Board rued that its efforts to resolve the concerns of the founders - who together own about 12.75 per cent stake in Infosys - over the course of a year through a dialogue have not been successful.
LIC, the biggest institutional investor in the stock market, held 3.71 per cent stake in Infosys during the October-December quarter, which has fallen to 3.25 percent as of March 31, 2014.
The company would focus only on expanding its existing facilities at an investment of around Rs 600 crore (Rs 6 billion), said S Gopalakrishnan, chief executive officer and managing director.
After removing Bell Curve model, company plans to do more periodic review of staff goals for facilitating continuous feedback.
Dip in attrition rates and higher bench strength seem to be signalling a normal year for hiring in FY24.
.jpg)
U B Pravin Rao explains how the company is executing the strategy.
Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the company.
Narendra Kumar Patni, pioneer of India's information technology (IT) services revolution, passed away in the US.
Infosys has been struggling to revive high growth for two years.
Nasdaq-listed Infosys has said it was the failure of the state government in fulfilling the agreed conditions that led to the delay in executing its 448-acre IT Special Economic Zone project in Hyderabad.
IT major Infosys Technologies will start construction work on its first software development centre in West Bengal, at Rajarhat near here, in three to six months, a top company official said on Friday.
The son is not being groomed for a bigger role in the company as of now.
Infosys has been making bets on automation and other high-margin services like artificial intelligence to regain some ground
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
Murthy's recent US trip helped to curb company's inflexible, arrogant perception
Infosys new chief executive officer and managing director Vishal Sikka took charge of the company in August.
Shares in Infosys Ltd rose as much 6.7 percent on Friday, after the company raised the lower-end of its fiscal 2014 dollar revenue growth guidance.
Infosys on Friday posted a 3.5 per cent rise in quarterly net profit, lagging analyst estimates.
"There is significant opportunity over the next few years. Only 25 per cent of the full leverage of IT is understood and used. The impact of IT will be significant in the next 25-30 years," said Infosys Technologies Chief Executive Officer and Managing Director S Gopalakrishnan. He added that there is still money to be made and wealth to be created in this sector.
Amazon has reclaimed the top spot as the world's most valuable brand despite its brand value falling 15 per cent this year from $350.3 billion to $299.3 billion, said a new report. According to brand valuation consultancy Brand Finance's report, "Global 500 2023", while Amazon is back at No 1, its brand value has fallen by over $50 billion this year, with its rating slipping from AAA+ to AAA. This is as consumers evaluate it more harshly in the post-pandemic world. Brand Finance's research has found that perception of customer service at Amazon has fallen - at the same time as delivery times have lengthened.
The route to that target is clear in Sikka's mind.
After agonizing over this for weeks, he made a decision. When they met after work one evening, he startled her by blurting out, 'I think we should break up.' A moving excerpt from Chitra Banerjee Divakaruni's An Uncommon Love: The Early Life of Sudha and Narayana Murthy.
With Infosys emerging out of an uncertain phase, the new management, led by CEO & MD Salil Parekh, is trying to catch up with market leaders, with the new strategy in place.
CEO probable says the new role as president could not have come at a better time
The company's executive vice president and chief financial officer Rajiv Bansal has resigned.
'Let us hope that with Nandan, like Cincinnatus back on his farm, taking over the reins, Infosys will not only regain its vigour and momentum, but vastly improve upon its achievements as a global player,' says B S Raghavan, the distinguished civil servant.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
'Employees find work challenging and fun'.
Infosys recently hosted its first-ever global hackathon, which was held across 20 locations and saw participation from over 1,100 employees.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances