'We spent considerable time re-skilling all the employees, and then we created a new focus called the 'One Infosys'.'
Infosys cautioned global IT corporations that replicating its 'global delivery model' of outsourcing from India would pose challenges to them due to difficulties faced in business model re-engineering and result in lower revenues.
At the end of Q1, Infosys had 1,79,523 employees.
IT major Infosys Technologies, which has presence in 40 countries, will spend Rs 1,250 crore (Rs 12.50 billion) over the next ten years for its new facility at Pocharam, near Hyderabad, being constructed in a 450-acre special economic zone.
Infosys Q1 net stood at Rs 1,527 crore, up 17.28 per cent. The company announced its results on Friday, a day after its co-founder and co-chairman Nandan Nilekani left for government's ID project.
Among Sensex firms, Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Mahindra & Mahindra and Tata Motors were the biggest gainers. UltraTech Cement, JSW Steel, Tata Steel, Adani Ports, Power Grid and Bajaj Finserv were among the laggards.
French power equipment major Alstom on Tuesday said it was setting up a joint R&D centre with software giant Infosys Technologies in Bangalore with an investment of $39 million over the next three years.
This is the first time that the company has acquired land on its own without seeking the assistance of the state government's land acquisition agency, Karnataka Industrial Area Development Board.
Its consolidated net sales was Rs 3,773 crore (Rs 37.73 billion).
The company, which hired around 27,000 last financial year, will hire more this time on the back of a positive outlook for the overall economy.
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
IT major Infosys on Thursday announced an extension of its digital innovation partnership with the Australian Open (AO) until the end of 2026. The extended collaboration with Tennis Australia will introduce enhanced broadcast match statistics and new initiatives to make tennis more accessible for all, while continuing to develop innovative digital stakeholder experiences, a statement said. The expanded collaboration will see Infosys and Tennis Australia continue to harness Big Data and Analytics, Artificial Intelligence, Virtual Reality and Cloud technologies to elevate the AO experience for fans, players, coaches, partners and the media, it added.
India's second-largest information technology (IT) firm Infosys has decided to reduce the average variable payout of employees to 70 per cent due to falling operating margins in the first quarter (Q1) of 2022-23 (FY23), said people in the know. "The margin impact in the current quarter has reflected on the performance bonus for this cycle," the company told its employees over email. "While 70 per cent is the correct figure, an important point is we have been told that the company will not defer any variable payment. "It is being paid according to schedule," said a person.
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
Indian software giant Infosys Technologies Ltd, on Wednesday, said it has posted a net profit of Rs 497
Among the Sensex pack, Kotak Mahindra Bank, Bharti Airtel, IndusInd Bank, Tata Motors, ICICI Bank, Bajaj Finance, State Bank of India and Titan were the biggest laggards. Larsen & Toubro, Infosys, HDFC Bank, Tata Consultancy Services, HCL Technologies and Tata Steel were the biggest gainers.
Infosys Technologies Ltd has announced the following audited results for the quarter and year ended March 31, 2006
Infosys on Tuesday said it has formed a long-term partnership with Daimler AG for a technology-driven IT infrastructure transformation. After the receipt of all regulatory approvals, Daimler AG will transform its IT operating model and infrastructure landscape across workplace services, service desk, data centre, networks and SAP Basis together with Infosys, a statement said. "As a part of this partnership, automotive IT infrastructure experts based out of Germany, wider Europe, the US and the APAC region will transition from Daimler AG to Infosys," it added. The companies, however, did not disclose the number of people who will transition as part of the deal.
Even after the recent developments at Infosys, both companies are expected to deliver similar revenue growth in FY17
Net profit after tax was Rs 531.92 crore (Rs 5.32 billion) for the first quarter ended June 30, 2005; YoY growth was 36.97 per cent
The IT major has also valued its employees at a little more than Rs 57,000 crore, up 23 per cent from the last year.
While the current headcount reduction has more to do with slowing demand, the rise of artificial intelligence will impact jobs in the future.
Software major Infosys Technologies on Monday announced that it plans to ramp up its operations in Pune with an investment of Rs 250 crore (Rs 2.50 billion).
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Infosys Q4 net profit at Rs 1,124 crore on a standalone basis.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
IT major Infosys and Microsoft have entered into a multi-year strategic engagement with Ausgrid to accelerate the cloud transformation of the largest electricity distributor on Australia's east coast. This programme will further Ausgrid's vision to connect communities and empower lives with a focus on affordability, reliability and sustainability, Infosys said in a regulatory filing on Monday. "With over 4 million Australians relying on our services every day, it is essential we are maintaining our high standard of reliability and connectivity, as well as delivering on the expectations of Australian communities," Nick Crowe, acting CIO at Ausgrid, said.
On a sequential quarter on quarter basis, the net profit has moved up by 2.6 per cent while the topline grew by 3.5 per cent.
India's largest IT services company Tata Consultancy Services (TCS) on Thursday posted an 8.7 per cent year-on-year rise in its consolidated net profit at Rs 12,040 crore in the first quarter ended June 2024. The net profit for the year-ago period stood at Rs 11,074 crore.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
What is perhaps most fascinating is that Infosys was not the first large Indian IT company to raise its head, nor has it been the largest; but it has often shown a remarkable ability to market itself so that it has punched above its weight.
It designs microsurgical instruments, devices used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables.
Among the Sensex pack, Tata Steel tumbled over 5 per cent while JSW Steel tanked nearly 5 per cent. Tata Motors, NTPC, UltraTech Cement, Tech Mahindra, Bajaj Finance, Power Grid, Mahindra & Mahindra, and Reliance Industries were the other major laggards.
The company which sets the trend for the $33 billion software exports industry from India, has achieved this growth inspite of the strong appreciation of the rupee against the dollar.
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