Infosys Profit Increases to Rs 6,806 Crore, Will Hire Thousands of Workers

The consolidated net profit of Infosys, one of the big software companies, increased by more than 11 percent to about Rs 6,806 crore in the third quarter of the current financial year. In the same quarter of the last financial year, the company’s net profit was approximately Rs 6,106 crore.

Infosys’ revenue from operations increased by more than seven percent in the third quarter to about Rs 41,764 crore. The share of financial services and manufacturing verticals in this revenue was about 27.8 percent and about 15.5 percent. The company has achieved double digit growth on year-on-year basis in India and Europe. The growth for Infosys in North America is about five percent. The company’s CEO, Salil Parekh, said, “There has been strong growth in the financial services vertical in the US in the third quarter. Apart from this, the retail and consumer products industry is also improving.”

Infosys has raised its revenue guidance for the current financial year for the third consecutive quarter. The company is expected to see a growth of 4.5 percent to 5 percent in revenue in this financial year. 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 complete its plan of hiring more than 15,000 workers in the current financial year.

Last year, the company faced 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 demonstration 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 be present in two pre-training sessions. However, there was a lot of delay in his joining. However, the company had said that it has adjusted some dates. Apart from this, there has been no change in his hiring plan. In the last few years, complaints related to postponement of joining of freshers by IT companies have increased.