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.
'If creative jobs can get disrupted, then left brain jobs like coding are easily disrupted. We are going through the journey of huge disruption.'
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.
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.
'We spent considerable time re-skilling all the employees, and then we created a new focus called the 'One Infosys'.'
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.
Among the 30 Sensex firms, Tata Motors jumped over 4 per cent, followed by Bajaj Finserv, Bajaj Finance, HCL Technologies, ITC, Reliance Industries, Tech Mahindra, Maruti and State Bank of India. Reliance Industries climbed nearly 2 per cent after Mukesh Ambani, chairman and managing director of the firm, said the board of the company will meet on September 5 to consider issuing bonus shares in the ratio of 1:1.
Bharti Airtel was the biggest gainer, rising by over 4.51 per cent. Adani Ports, Sun Pharma, Tata Steel, HCL Technologies, Infosys, JSW Steel and Mahindra & Mahindra were the other big gainers.
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.
From the Sensex pack, Tata Motors, Sun Pharmaceutical, Bharti Airtel, Bajaj Finserv, ICICI Bank, Mahindra & Mahindra and JSW Steel were the gainers. Tech Mahindra, HCL Technologies, Asian Paints, Titan, Infosys, State Bank of India, Tata Consultancy Services and HDFC Bank were the laggards.
'Digital courts will alleviate congestion in traditional courts.'
Indian software giant Infosys Technologies Ltd, on Wednesday, said it has posted a net profit of Rs 497
'Both campuses and talent should brace for a low-velocity campus hiring season that might extend into the off-campus period.'
Infosys Technologies Ltd has announced the following audited results for the quarter and year ended March 31, 2006
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.
Even after the recent developments at Infosys, both companies are expected to deliver similar revenue growth in FY17
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.
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
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.
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.
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).
Infosys Q4 net profit at Rs 1,124 crore on a standalone basis.
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.
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.
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.
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.
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.
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.
'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.'
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.
It designs microsurgical instruments, devices used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables.
The consolidated revenue of the country's second largest software exporter rose to Rs 6,198 crore
While the current headcount reduction has more to do with slowing demand, the rise of artificial intelligence will impact jobs in the future.
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