IT services major Infosys on Thursday reported 11.46 per cent increase in consolidated net profit at Rs 6,806 crore for December quarter FY25 and raised its guidance on the back of growth in financial services and manufacturing. The company had logged a profit of Rs 6,106 crore in the corresponding period of the previous fiscal.
In 2017, when Infosys announced that Salil Parekh would be its next chief executive officer (CEO) and managing director (MD), very few in the industry or the analyst community doubted his ability to bring the company back to a healthy growth trajectory, improve morale within the company and, more importantly, win the promoters' trust and investor confidence. There were reasons for this confidence. He was not only the deputy CEO of the Paris-headquartered IT services major Capgemini, but also one of the only non-European faces on the executive board of the company.
Merely being prosecuted on money laundering charges is not a sufficient ground to deny permission for passport renewal, a special court in Mumbai has said while granting nod to former Maharashtra minister Anil Deshmukh's son to apply for renewal of his passport.
Lataji had once picked her favourites, albeit reluctantly, and told Subhash K Jha just why they were so close to her heart.
Infosys, in 2019, was given the contract to develop the new portal. It was launched in June last year and stakeholders had reported glitches and difficulties in the functioning of the portal. "On the I-T project, we are extremely proud that as of December 31, as was reported, 5.8 crore returns were filed through that timeframe.
Parekh, who is joining the company from Capgemini, will take over on January 2, 2018..
Retail shop Provogue's owner Salil Chaturvedi, arrested allegedly for drugs consumption, was acquitted by a sessions court in Mumbai on Friday.
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 CEO Salil Parekh has indicated that offers given to freshers will be honoured by the company and followed with joining, although there has been some change in dates. The comments of Infosys top honcho assumes significance amid reports that the company has delayed onboarding of 2,000 fresh engineering graduates from 2022-batch.
'Many of these patients arrive at emergency departments in distress, struggling to breathe and requiring immediate medical intervention.'
After posting double-digit growth for the fourth consecutive quarter, chief executive officer and managing director Salil Parekh tells Yuvraj Malik and Debasis Mohapatra that the firm is not facing any delay in ramping up of large deals.
A round-up of the Ranji Trophy matches played on Friday.
The Bharatiya Janata Party has opted not to grant tickets to eight MLAs, followed by Congress which replaced five MLAs.
2019, however, will be a bigger test as the firm continues to deal with rising attrition and margin pressure.
The second-quarter performance of the top five information-technology services firms gives the hint that slow growth has bottomed out on the back of discretionary spending kicking in for the sector's largest vertical - the banking and financial services. However, concern about the macro-environment continues to be a challenge. Among the top four - Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro - it is Bengaluru-based Infosys that has performed the best and that was evident in its full-year revenue guidance.
The former minister, who received injuries during the attack, was immediately rushed to the Katol Civil Hospital, police said.
Singh asserted that Deshmukh set a staggering collection target of Rs 100 crore for his officers, specifically from Mumbai, while also discussing plans to target key opposition figures, including former Chief Minister Devendra Fadnavis of the Bharatiya Janata Party.
The 15-member squad of the Indian team which won the T20 World Cup will take home Rs 5 crore each.
It is understood that the selectors are looking to bring more variations into the pace attack and hence a left-arm seam and swing bowler could be added to the bouquet of pacers vying for a Test cap.
'Salilda and my brother Hridaynath would deliberately make my compositions tough.' 'Their logic was, "You can do it, so why should we not compose accordingly?",' Lata Mangeshkar, who would have turned 94 today, September 28, 2023, once told Subhash K Jha.
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.
There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
Rajasthan's Mahipal Lomror put the IPL franchises on alert ahead of the mega auction with a sensational triple hundred comprising a staggering 13 sixes and 25 fours in their Ranji Trophy Group B match against Uttarakhand here on Thursday.
A round-up of the Ranji Trophy matches played on Saturday.
Infosys will comply with whatever regulations and guidelines Karnataka comes up with, a top company official said on Thursday on the proposed reservations for locals in private firms in the state. Infosys employs over 3.15 lakh people at present across the globe. "We are planning to work with all the regulations of the state and central governments.
March was the first full quarter for Infosys under its new CEO Salil Parekh.
The BCCI on Monday invited applications to replace one among the five senior national selectors and in all likelihood, former pacer Salil Ankola would be the one on his way out as West Zone is already represented by chairman Ajit Agarkar.
Over the last years, taking the helm at Infosys has always had a strong resemblance with taking a roller-coaster ride
Infosys chairman Nandan Nilekani voluntarily chose not to receive any remuneration for his services.
The applicant should have played either 7 Tests or 30 first-class matches. A candidate with experience of 10 ODIs or 20 first-class matches will also be considered.
India's second richest person Gautam Adani received a total remuneration of Rs 9.26 crore in the fiscal year ended March 31, 2024, lower than most industry peers as well as his own key executives.
Parekh in a video address to employees expressed delight on leading the iconic company
Punjab, starting the penultimate day on 73/3 and needing 144 more runs, crumbled under pressure from Sindhu's relentless spin and Jayant Yadav's precise off-spin (3/35 in 10.4 overs), collapsing well before lunch and handing Haryana their second outright win in four matches.
'Both campuses and talent should brace for a low-velocity campus hiring season that might extend into the off-campus period.'
IT major Infosys Ltd on Thursday reported a 7 per cent rise in first quarter net profit and raised its growth outlook for the current financial year. The consolidated net profit of Infosys increased to Rs 6,368 crore in the April-June quarter, compared to Rs 5,945 crore in the same period a year back, according to a stock exchange filing by the company.
In Parekh, an IIT-Bombay and Cornell University alumnus, Infosys may have finally found a person who will grab the market opportunity with good execution.
The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, "there is still some time for the industry to be firing on all cylinders." Among the majors-Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro-it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.
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.
The latest whistleblower complaint accusing him of pressuring finance team members to inflate profitability has come right out of the blue. There's another allegation that he made racist remarks against some board colleagues. For a man with a singular focus on the business and clients, all of this must have blindsided him.
IT company Infosys on Thursday said its consolidated profit jumped 30 per cent to Rs 7,969 crore in the fourth quarter ended March 2024. The company posted a profit of Rs 6,128 crore in the same period a year ago, according to a regulatory filing. The consolidated revenue of Infosys during the reported quarter increased by 1.3 per cent to Rs 37,923 crore from Rs 37,441 crore in the same quarter a year ago.
