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.
It has also informed the Bombay Stock Exchange that the Board of Directors of the Company at its meeting held on October 10, 2014, inter alia, has declared interim dividend of Rs 30 per equity share. The interim dividend declared in the previous year was Rs. 20 per equity share.
IT services firm Infosys on Thursday reported an 11 per cent rise in consolidated net profit in June quarter at Rs 5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. The net profit (before minority interest) during the same period previous year stood at Rs 5,362 crore.
Arghyam Foundation on Monday said Rohini Nilekani has decided to retire from the foundation as Chairperson and member of the board on September 30, 2021. She will be succeeded by Sunita Nadhamuni, currently a member of the board at Arghyam and Head of Digital LifeCare, Dell Giving and Social Innovation at Dell Technologies. Rohini Nilekani, the wife of Infosys co-founder and chairman Nandan Nilekani, had set up the foundation in 2001 as a vehicle for her personal philanthropy.
Most of the 250 freshers Infosys hired from US campuses last year would be deployed in sales
The availability of domestic capital to fund startups and an ability to attract talent in the early days are among the biggest challenges faced by entrepreneurs, Infosys co-founder N R Narayana Murthy said on Thursday. "It is desirable to create a policy that makes it attractive for domestic institutions like family offices of HNIs (high net-worth individuals), insurance companies or large corporations to invest in venture capital funding," he said at the T N Chaturvedi Memorial Lecture 2024 in New Delhi's Prime Ministers' Museum and Library.
Infosys CEO Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability." Parekh - who steered the firm to stability after a bitter spat between founders and then-management a few years back - believes that Infosys is "well positioned" to leverage tech-led growth opportunities over the next several years. Parekh took over at the helm in January 2018, after a standoff between board and founders, including NR Narayana Murthy, over issues such as governance, led to the exit of then-CEO Vishal Sikka.
Infosys on Friday posted a 3.5 per cent rise in quarterly net profit, lagging analyst estimates.
Through these new hires and centres, Infosys will also focus on enhancing its play in new technology areas like artificial intelligence (AI), machine learning, user experience, cloud and big data.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Tata Consultancy Services, India's largest software exporter, hired 100,000 freshers in the financial year 2021-22, more than in any other year. That means an average of 8,300 trainees joining the company every month. This is not merely a mathematical calculation: hiring of freshers at the top IT companies is no longer a compressed affair confined to the campus season.
'We spent considerable time re-skilling all the employees, and then we created a new focus called the 'One Infosys'.'
The 19-member National Syllabus and Teaching Learning Material Committee (NSTC) will be headed by National Institute of Educational Planning and Administration (NIEPA) chancellor MC Pant and develop textbooks for classes 3 to 12.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
'If creative jobs can get disrupted, then left brain jobs like coding are easily disrupted. We are going through the journey of huge disruption.'
The annual award includes a pure gold medal, a citation and a prize purse worth $ 100,000 or its equivalent in the Indian rupees.
The country's second-largest IT services firm Infosys on Wednesday reported a 16.6 per cent rise in consolidated net profit at Rs 5,197 crore for the December 2020 quarter. The company had posted a net profit (after minority interest) of Rs 4,457 crore in the year-ago period, Infosys said in a regulatory filing. Its revenue grew 12.3 per cent to Rs 25,927 crore in the quarter under review from Rs 23,092 crore in the corresponding period last fiscal.
Rajinikanth traveled to Bengaluru to attend the Karnataka Ratna Award ceremony on Tuesday, November 1, which honoured the late Kannada actor Puneeth Rajkumar.
A video post on Reddit, which has since gone viral, shows the L&T chief saying, 'I regret that I am not able to make you work on Sundays, to be honest. If I can make you work on Sundays, I will be more happy because I work on Sundays also.'
Numeros Motors is also planning to come up with a passenger vehicle four-wheeler or a three-wheeler by 2027.
The Infosys Science Foundation on Monday announced the winners of the Infosys Prize 2010 recognizing outstanding contributions to scientific research that have impacted India.
Founders of the Garden City's technology companies are learning the art of patience when it comes to meeting CSR objectives.
I started my journey as the CEO of this iconic company with a mission to transform it on the basis of software, especially (artificial intelligence), and innovation, enabled by education. Three years later, I feel proud of our progress and achievements: Vishal Sikka.
One possible way of accelerating National Education Policy's outcome is to invite 10,000 retired highly accomplished teachers from the developed world and from India in STEM areas to create 2,500 "Train the Teacher" colleges in the country's 28 states and eight union territories, Murthy said.
The top three Indian IT firms -- Tata Consultancy Services (TCS), Infosys and Wipro -- collectively trained over 775,000 employees in generative AI (GenAI) capability by the end of 2023-24, according to an analysis of GenAI-trained workforce of leading companies in India in this sector. This number is significantly higher that the projection made by the IT industry body Nasscom in its Strategic Review of 2023, released in February this year. It said in 2023-2024, over 650,000 employees across the IT industry received training in Gen AI skills.
Finacle is a universal banking solution from Infosys which addresses the core banking, treasury, wealth management, consumer and corporate e-banking, mobile banking and web-based cash management requirements of retail, corporate and universal banks worldwide. Standard codes like ISO Country / Currency, SWIFT BIC Codes, UCPDC Codes are also incorporated in the Finacle BIAB framework, the company informed.
Infosys co-founder and chief mentor N R Narayana Murthy and Infosys Foundation chairperson Sudha Murthy's daughter, Akshata, is all set to tie nuptial knot with an Indian classmate of hers from Stanford Business School on August 29, family sources said.
Nilekani is an organised person and his strength is simplification of complex ideas, said Murthy.
State-run Life Insurance Corporation of India (LIC) has committed Rs 600 crore for its digital transformation journey, Sunder Krishnan, chief risk officer said on Wednesday. The insurance giant is also aiming to become completely "paperless" in two years. "We have hired a large system integrator for more than Rs 400 crore, a consultant for digital transformation for Rs 100 crore, and Rs 100 crore for agency transformation.
Infosys felicitates outstanding researchers in various fields.
Silent support for the movement, which has recently turned its guns against industry, has come from India Inc as well, mainly from Infosys founder N R Narayana Murthy, who made donations of Rs 25 lakhs (Rs 2.5 million) in 2011.
Information technology major Infosys and Liberty Global, a London-based telecom firm, signed a 1.5 billion (about $1.64 billion) deal for five years to evolve and scale up the telco's digital entertainment and connectivity platforms, the companies said in a joint statement on Tuesday. As part of the expanded collaboration agreement, the size of the contract will touch 2.3 billion (about $2.5 billion) if extended to 8 years. The collaboration allows Liberty Global to realise run-rate savings of over 100 million (about $109 million) per annum, inclusive of other savings and technology investments, Infosys said in a statement.
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
Prime Minister Narendra Modi has lauded the people for contributing wholeheartedly to the PM CARES Fund as he chaired its meeting which was also attended by newly-nominated trustees Justice K T Thomas, former deputy Lok Sabha speaker Kariya Munda and Ratan Tata, the PMO said on Wednesday.
The Infosys Science Foundation on Thursday awarded winners of Infosys Prize 2010 recognising their outstanding achievements in scientific research.
Infosys Science Foundation announced 2011 prize winners across five categories.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
'Children are curious by nature, so I thought of writing these books, which provide creative but convincing explanations and also teach values like sharing is caring,' Sudha Murty tells Chintan Girish Modi.
"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.
