The company will pay an average of 80% variable payment to its employees for the quarter ending June 30 of the current financial year. This amount will be given to the employees along with the salary for the month of August.
IT sector giant Infosys has made a big announcement for its employees. The company will pay an average of 80% variable payment to its employees for the quarter ending June 30 of the current financial year. This variable pay amount will be given to the employees along with the salary for the month of August. The company has taken this decision after the good results in the June quarter. Infosys has announced this in an email sent to employees by Human Resources (HR).
What the CEO says
After this decision, the company’s CEO Salil Parekh said that ‘we achieved 4.2% growth in the first quarter of the current financial year and achieved a big deal of $ 2.3 billion which helps in creating a strong foundation for future growth. In addition, our generative AI capabilities and 80 active client projects are also expanding well.
11% increase in the company’s net profit
Explain that in the first quarter of the current financial year, the net profit of Infosys stood at Rs 5,945 crore with an increase of 11 percent. While the company’s revenue during this period was $ 4,617 million. However, the company’s operating margin stood at 20.8 per cent in the first quarter of the current financial year as against 21 per cent in the year-ago period. In addition, the company bagged a whopping $2.3 billion deal during this period.
Company’s stock performance
Let us tell you that the company’s shares closed at 1407.70 on Wednesday, up 0.28 percent. While the previous close of the company was Rs 1403.80. At the same time, the total market cap of the company is Rs 584245.87 crore. On the other hand, the 52 week high level of the company is Rs 1672.45. While the company’s 52-week low level is Rs 1215.45. Moreover, the total turnover of the company is Rs.29.92 Crore.
Disclaimer: Here only the information about the performance of the stock is given, it is not an investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.
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