Infosys profit rises to Rs 6,806 crore, company will do new hiring
Infosys, one of the largest software companies, reported a consolidated net profit of over 11 per cent to around Rs 6,806 crore in the third quarter of the current financial year. The company’s net profit in the same quarter of the previous financial year was around Rs 6,106 crore.
Infosys’ revenue from operations in the third quarter grew by over seven per cent to around Rs 41,764 crore. The share of financial services and manufacturing verticals in this revenue was around 27.8 per cent and around 15.5 per cent, respectively. In India and Europe, the company has achieved double-digit growth on a year-on-year basis. Growth for Infosys in North America has been around five per cent. The company’s CEO, Salil Parekh, said, “The financial services vertical in the US has seen strong growth in the third quarter. Apart from this, the retail and consumer product industry is also improving.” Infosys has raised its revenue guidance for the current financial year for the third consecutive quarter. In this financial year, the company is expected to get 4.5 percent to 5 percent growth in revenue. In the last quarter, the company has added 5,591 new workers. Its total number of workers is 3,23,379. The company said that it will fulfill its plan of hiring more than 15,000 workers in the current financial year.
Last year, the company had to face criticism for postponing the joining of new graduates. After this, the company had issued offer letters to these freshers. A union of software workers had warned that if the joining date of freshers is postponed, then there will be a protest against the company. These young engineers were waiting for joining for almost two years. They were offered appointment in the company in 2022 as system engineers. They were also instructed to attend two pre-training sessions. However, there was a lot of delay in their joining. However, the company had said that it has adjusted some dates. Apart from this, there has been no change in its hiring plan. In the last few years, complaints related to delay in joining of freshers by IT companies have increased.
