Infosys Employees to Get Salary Hikes & Promotions across All Levels in January
Infosys, the Indian tech major in digital services and consulting announces its second quarter financial performance. The company also divulged that it will be rolling out salary increases and promotions across all levels effective from January 1st. According to the statement issued by Infosys, the Q2 revenues grew sequentially by 4.0 percent in constant currency (CC). The company clocked a year-on-year revenue growth of 8.6 percent in INR and grew by 2.2 percent in CC.
The digital revenues in the second quarter stood at
$1,568 million (47.3 percent of total revenues), which implicates a year-on-year growth of 25.4 percent in CC. The Q2 operating margin stood at 25.4 percent, which is an increase of 370 basis points year-on-year.
Commenting on the results, Salil Parekh, CEO & MD, Infosys, said, “Our second quarter performance is a clear reflection of our ability to help clients on their digital transformation journeys. Our digital and cloud capabilities combined with intense client relevance are helping us achieve differentiated results in the market as is visible in 2.2percent year on year overall revenue growth and 25.4 percent growth from digital offerings, which now are at 47.3percent of revenues. Increase in revenue and margin outlook for FY 21 is due to the continued trust clients have in us. I am extremely proud of our team for achieving these results in challenging business conditions globally.”
“Employees have been critical part of our success. As a recognition of their stellar performance, we are giving 100percent variable pay along with a special incentive for Q2. Additionally, we are rolling out salary increases and promotions across all levels effective January 1st,” said Pravin Rao, COO, Infosys.
The large deal signings done by Infosys during the period was clocked at $3.15 billion. The company in its report highlighted the fact that despite the on-going pandemic, it was able to continue nurturing a culture of deep client relevance. It also highlighted the collaborations and partnership with companies like Consolidated Edison Company, LANXESS, Essential Utilities, LivePerson, Old National Bancorp (ONB), and The National Bank of Bahrain (NBB).