Infosys Salary Hikes: The salary increase is applicable from April 1 but the salary hike received by the employees will be applicable from November 2023. On an average, the company has increased the salary of its employees by less than 10 percent.
Infosys Salary Hikes: Infosys, one of India’s largest IT companies, has increased the salary of its employees. According to ET, employees have been given salary pay slips. This salary has been increased from December 15. Usually, salary increases are implemented from April 1, but the salary hike received by the employees will be applicable from November 2023. On an average, the company has increased the salary of its employees by less than 10 percent. According to the report, entry level employees have not been included in this annual salary increase program.
How was the company’s performance?
The company’s profit increased by 3.17 percent to ₹6,212 crore as compared to ₹6,012 crore in the same period last year. The Bengaluru-based company has trimmed its revenue growth forecast for the full year to an upper end of 1-2.5 per cent. The decline in revenue comes after it was reduced to 1-3.5 percent in the July-September quarter of the financial year 2023-24 from 4-7 percent in the previous quarter.
The company has also declared dividend
Revenue in the September quarter rose 7 per cent to ₹36,538 crore compared to ₹38,994 crore in the same period last year. Infosys had also declared a dividend of ₹18 per equity share with the record date of October 25. Operating margin for the September quarter was 21.2 percent, an increase of 40 basis points sequentially. According to the company statement, Infosys has maintained the operating margin at 20 percent-22 percent.
