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<ul><li>IT major reports 2.3% sequential growth in its constant currency revenues.</li><li>Company’s net profit has grown by 4.5% sequentially to ₹6,212 crore.</li><li><keyword id="6354512" type="General" weightage="100" keywordseo="infosys" source="Orion">Infosys</keyword> reports highest large orders’ total contract value at $7.7 billion.</li></ul> IT major Infosys reported a 2.3% sequential growth in its constant currency revenues for the second quarter on Thursday. While it did beat street expectations of around 1% growth, the Bengaluru-based tech major also slashed the upper end of its constant currency revenue guidance for FY24. The company has also announced wage hikes which will be rolled out from November 1, 2023. The company’s dollar revenues sequentially grew 2.2% to $4,718 million in Q2 as compared to $4,617 million in Q1. It had earlier guided that its constant currency (CC) revenues for FY24 will grow at 1-3.5%. Half way through the fiscal year, it believes that it can grow anywhere between 1-2.5%. It has however retained its operating margin guidance 20-22% for the year. The net profit grew by 4.5% sequentially to ₹6,212 crore in Q2 from ₹5,945 crore in the last quarter. Its operating margin for the quarter increased by 40 basis points sequentially to 21.2%. “Our Q2 operating margin of 21.2% demonstrates the early benefits of the recently unveiled margin improvement plan and is a clear reflection of our ability to continuously identify opportunities for improving operational efficiencies,” said <keyword id="2984280" type="General" weightage="50" keywordseo="nilanjan-roy" source="Orion">Nilanjan Roy</keyword>, CFO. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2FY24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1FY24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">%change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dollar revenues </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$4,718 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$4,617 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,212 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,945 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.5% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Comment on earnings by Prashanth Tapse of Mehta Equities said, “Infosys Q2 earnings are in line with markets expectation but the company trimming its revenue guidance would be negative for the stock. Overall results are not so bad but discounted in prices. FY24 guidance - revised downwards would put pressure on prices to sustain while it has maintained margins." He added that technically the last minute fall in prices shows that results were not in favour of bulls and hence a gap down opening between ₹1,400-1,420 could be seen in the opening trade. Large deal wins The company is also sitting on a robust orderbook of large deals. Its large orders’ total contract value (TCV) of large deals at $7.7 billion. “We had our highest large deals value at $7.7 billion in Q2 spread across all verticals and geographies. This, in an uncertain macro-environment, is a testament to our ability to pivot and stay relevant to the evolving client needs, by delivering the benefits of transformation as well as productivity and cost savings at scale”, said <keyword id="328377" type="General" weightage="50" keywordseo="salil-parekh" source="Orion">Salil Parekh</keyword>, CEO and MD. Like its peer TCS, Infosys also reported a drop in attrition to 14.6%. “Strong H1 performance with significant large deal wins, builds a solid foundation for the future. The growing adoption of our Generative AI offering, Topaz, is helping us deliver consistent value and expand market share”, Parekh added.

Infosys Q2 US dollar revenue up 2.2%; cuts upper end of guidance for FY24

<keyword id="6354512" type="General" weightage="100" keywordseo="infosys" source="Orion">Infosys</keyword> is the latest entry to the list of IT firms clamping down on moonlighting employees. However, the IT behemoth is mulling a system that will allow employees to work on external projects too. Without elaborating on the numbers, <keyword id="15256520" type="General" weightage="50" keywordseo="infosys-ceo-salil-parikh" source="Orion">Infosys CEO Salil Parikh</keyword> said that over the last year, the company has let go of its employees found working with other companies. "Where there are confidentiality issues, we have let them go," Parikh said on Thursday at the press conference announcing the Q2 results. Parikh however said that Infosys is mulling a policy that allows employees to work on other projects within and outside of Infosys. Earlier <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> Chairman <keyword id="197349" type="General" weightage="50" keywordseo="rishad-premji" source="Orion">Rishad Premji</keyword> had expressed concerns over the issue of moonlighting employees. A few weeks ago, Premji stated that Wipro had fired 300 employees on this count. Amid reports of IT companies delaying or putting fresh recruitments on hold, <keyword id="10389637" type="General" weightage="50" keywordseo="infosys-cfo-nilanjan-roy" source="Orion">Infosys CFO Nilanjan Roy</keyword> said that there was no delay in onboarding freshers. He said that Infosys hired 40,000 freshers in the first half of the financial year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/soon-you-wont-be-able-to-fake-your-age-on-instagram/articleshow/94853597.cms">Soon, you won't be able to fake your age on Instagram </a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/twitter-will-soon-allow-you-to-control-who-can-mention-you-in-their-tweets/articleshow/94852135.cms">Twitter will soon allow you to control who can mention you in their tweets</a>

Infosys too cracks whip but mulling policy to allow moonlighting

We all have gone through times when we weren’t appreciated by our <keyword id="74643" type="CITY" weightage="20" keywordseo="bosses">bosses</keyword>, following which we hopped jobs. But, according to a study by TimesJobs, nearly 90% employees in <keyword id="46431" type="CITY" weightage="20" keywordseo="India-Inc">India Inc</keyword>. would stick around longer if they feel they are being appreciated for the work they do. 
 "Companies should ensure this by appreciating, recognising and rewarding your employees. It is a highly effective and proven strategy for improving employee engagement and business output. Therefore, creating a formal structure for employee recognition is very important,” <keyword id="2984280" type="PERSON" weightage="20" keywordseo="Nilanjan-Roy">Nilanjan Roy</keyword>, head of strategy, <keyword id="149320" type="COMPANY" weightage="20" keywordseo="Times-Business-Solutions">Times Business Solutions</keyword> told ET. 
 
Everybody enjoys appreciation and values it but according to the study, only 41% employees feel that they are being appreciated. 59% of them, however, feel that aren’t being appreciated for what they are doing. 
 
This study showed that regardless of how important appreciation is, companies really don’t care about it, as 59% is quite a big number and they feel that they aren’t appreciated. 
 According to an industry-wise analysis, 87% IT, Telecom, ITeS and internet employees don’t get much appreciated by their bosses. The number in automobile industry is comparatively low to 75 % and 70% in <keyword id="6356925" type="ORGANIZATION" weightage="20" keywordseo="BFSI">BFSI</keyword> sector said no to any sort of appreciation from their bosses. Manufacturing and retail sectors, however, seem to be quite appreciative of their employees with 52% of its staff claiming there is enough appreciation from their bosses. 
 In a gender-wise analysis, it was seen that the number of <keyword id="3804701" type="UNKNOWN" weightage="20" keywordseo="unappreciated">unappreciated</keyword> males is higher than that of females. 85% male and 63% female employees feel there is not enough appreciation from their boss at work. Also, 62% junior level, 80% middle level and 50% senior level employees claim a lack of appreciation at workplace. 
 
"Employers need to actively engage with their current and future employees, and positive reinforcements are the best way to ensure a powerful employer brand. Open, transparent and responsive communication both on formal and informal channels is key to success - active use of digital media, social networks and company reviews sites all play a major role in ensuring an attractive employer brand." Roy told ET. 
 
“It's not a tough task to make employees feel valued at work. About 70% employees say that they feel appreciated if offered career advancement opportunities at their workplace. For 44% appreciation lies in regular rewards &amp; recognitions, 37% find the best form of appreciation is in a pay raise while 22% feel valued when given a more challenging work profile,” it said in the study. 
 
“Nearly 20% employees say they feel appreciated when allowed flexibility options, such as work from home &amp; telecommuting. And 11% say more authority in decision-making makes them feel appreciated,’ it added. 
 
Though, a sustainable competitive advantage can be achieved by simply keeping employees happy but employees in India still have a long way to go as only 22% employees said they received appreciation every time they performed well last year, while 60% employees say they had rarely been appreciated for their good work last year. A further 18% stated they were never appreciated.

Here’s how you can stop attrition rate in your office

The share price of Infosys fell by 16.2% a day after whistleblowers complaint on its top management turned public, on Tuesday (October 22). That’s a wealth erosion of about ₹53,000 crore (about $7 billion). It also hit a lower circuit and closed at ₹643 per share. This is due to a whistleblower complaint which alleged that the CEO and CFO top management put pressure on them to not recognise the reversal of $50 million on FDR contracts as it will slash profits. Two anonymous whistleblowers accused the CEO Salil Parekh and CFO Nilanjan Roy of concealing information from auditors and keeping large deal information from the board. But, investors seem to fear that this may only be the tip of the iceberg. And, this is not the first time that Infosys has been accused of ‘corporate governance’’ issues. In fact, the founder of the company and the promoter group has been vocal<a href="https://economictimes.indiatimes.com/markets/stocks/news/infosys-promoters-including-murthy-nilekani-offer-shares-worth-rs-2038-crore-for-buyback/articleshow/60347494.cms?from=mdr"> of possible irregularities</a>, especially during the acquisition of Panaya for $200 million. This was of course, two years back. Ever since, the CEO Vishal Sikka and the CFO R Seshasayee have quit after blaming the founder Naranya Murthy of ‘personal attacks’ on them. The board too had been scrubbed clean and changed by one of its founders Nandan Nilekani but as it seems to be, the troubles are far from over. The severity of the fall in the share price today shows that investors are more worried about the standard of governance at one of India’s most famous home-grown companies that was once touted to be a benchmark in corporate governance. As per he whistleblower complaints, millions in reversals were not added into the accounts, to make profits ‘look good’. Amongst other things, whistleblowers said that Even without a possibly fake facelift, Infosys has been losing out to its competitors. A research report by Nomura has maintained its ‘neutral’ rating on the company preferring TCS over it. “We expect calendar year growth momentum to moderate in the second half below double digits as it should be seasonally weak with furloughs in the third quarter. Incrementally, outlook is weak in retail, and BFSI remains soft which is 50% of revenues combined), though performance and outlook on other verticals is strong,” the report said after Infosys declared its quarterly results. For a company which is growing slow, investigation and accusations will not help. Not during times of slowdown which it already has a lot of ground to cover. If more troubles come out of the Pandora’s box, Infosys will risk comparison to the likes of Satyam Computers which went down in 2009 after the promoter Ramalinga Raju tried to merge it with another infrastructure company he runs, failed and declared his role in a scandal that hit the credibility of entire India Inc.

Infosys lost $7 billion in share value due to $50 million whistleblower complaint-- showing that governance is bigger than money

Getting a job is getting harder day by day and you have to make your skills stand out in your resume. We all have faced problems with our first <keyword id="6705587" type="UNKNOWN" weightage="20" keywordseo="resumes">resumes</keyword> and there have always been questions regarding what kind of a <a href="http://www.businessinsider.in/searchresult.cms?query=Curriculum+Vitae&amp;sortorder=effectivedate">Curriculum Vitae</a> is preferred by the employer. Well to your rescue, <a href="http://www.businessinsider.in/searchresult.cms?query=TimesJobs+&amp;sortorder=effectivedate">TimesJobs </a>conducted a study that surveyed over 1,100 employers to reveal the most crucial elements that make or break the first impression that your <keyword id="6499922" type="ORGANIZATION" weightage="20" keywordseo="CV">CV</keyword> makes. 
 
Most employers said they prefer a two-page CV and it shouldn’t have any grammatical or spelling mistake and have specific details related to the job applied or else it will get rejected. 
 
"Your CV should be looked at as your elevator pitch - it is that small window of opportunity that you have to get the employer interested enough to call you for a detailed discussion. It is a good practice to get an outside expert's help to highlight what you do best. As they can identify your areas of excellence, that you may not have identified yourself, and which could be crucial in turning things to your advantage,” Nilanjan Roy, Head of Strategy, <a href="http://www.businessinsider.in/searchresult.cms?query=Times+Business+Solutions&amp;sortorder=effectivedate">Times Business Solutions</a> told ET. 
 
More than 55% employers said that, maintaining a strategic distance from syntactic blunders and spelling mistakes are vital in making a conventional first impression. Also, half of the businesses feel a CV ought to mirror the candidate's capabilities and abilities in playing out the capacities that the job requires. Also, 46% of the employers surveyed said that a CV which doesn't have details specific to the job role a candidate has applied for is the biggest let down for the recruiter. 
 
The survey also highlighted the fact that recruiters aren’t interested in CVs that are longer than two pages. Nearly 43% say the length of CV matters the most, according to the findings of the survey. Almost 80% employers find a two-page to be the ideal length and 20% even preferred a single-page CV. 
(image: thinkstock)

Next time you apply for your dream job, here is what you should keep in mind while preparing your CV

<ul><li>Infosys’ attrition rate increased to 25.5% in the December quarter of 2021.</li><li>It now plans to hire additional 10,000 employees to make up for this increased attrition rate.</li><li>Roy further added that the company already has a pipeline of potential candidates</li></ul>IT giant Infosys plans to increase its hiring plan to over 55,000 individuals by March 2022 as the attrition rate in the company has crossed 25% compared to 20.1% three months earlier. In comparison, the attrition rate at Wipro was <a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">22.7% in the three months</a> ending December. Attrition is used to describe the rate at which employees are leaving the company. “We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program to over 55,000 for FY22 to support our growth ambitions," Nilanjan Roy, chief financial officer at Infosys said. The company had earlier planned to hire 45,000 employees by the end of 2021. <div type="image" title="Infosys" msid="88857005" hostid="261" caption="&amp;lt;p&amp;gt;Infosys&amp;lt;/p&amp;gt;"></div> Roy further added that the company already has a pipeline of potential candidates from multiple verticals including cloud, internet of things, cyber security and more. Roy explained that the company had a three-pronged strategy to stop people from leaving the company. These included higher rewards and compensation, upskilling and reskilling opportunities, and talent retention programmes. “We are also looking at differentiated talent this year when our campus hires digital specialists, who are different skill sets coming into the company. Certainly across reskilling, which continues to be a core to our fundamental business model and how we digitally scale employees, give them incentives to get reskilling in new technologies,” Roy added, explaining how they plan to increase their retention rate. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro increases hiring plan to 30,000 as attrition hits a new high</a>

The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000

<ul><li>Infosys’ attrition worsened more in the January-March quarter reaching at 27.7% from 25.5% in the previous quarter.</li><li>Also, the IT major’s attrition rate is worse in the industry compared to other Indian peers.</li><li>The company is looking to hire 50,000 employees in FY23 as against 85,000 it hired in FY22.</li></ul>Infosys, India’s second-biggest information technology (IT) company in terms of market capitalisation, continues to be the biggest victim of the talent war with a high number of employees leaving the organisation. Infosys’ attrition worsened more in the January-March quarter reaching at 27.7% from 25.5% in the previous quarter. The IT major’s attrition rate is worse in the industry compared to other Indian peers, even more than TCS’ attrition rate of 17.4% in the same quarter. <div type="image" title="infosys attrition" height="900" width="1200" msid="90826018" hostid="261"></div>However, the management at Infosys said the attrition rate has come down on a quarterly basis as against the LTM (last twelve months) data disclosed. Moreover, it expects the attrition rate to decline gradually as it also kicks off hikes from April 1. “Attrition for the quarter has come down by close to 5% both in percentage and absolute headcount. So we talked that last quarter attrition had actually stabilised… of course the tail effect will continue to climb. Good news is we have seen stability and of course the intervention we are looking at like the April 1 hike plan, we should continue to see some improvement in them,” said Nilanjan Roy, chief financial officer at Infosys. Further, the company is looking to hire more than 50,000 employees in FY23 as against 85,000 it hired in FY22. Infosys has an employee base of 3.14 lakh, half of what TCS has. The company’s net profit for the March quarter rose about 12% to ₹5,686 crore with revenue growth of 22.7% year-on-year at ₹32,276 crore. Infosys has set a revenue growth guidance of 13-15% for FY23. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adanis-green-energy-firm-now-even-bigger-than-hdfc-bajaj-finance-bharti-airtel/articleshow/90819094.cms">Gautam Adani’s renewable energy firm now bigger than HDFC, Bajaj Finance, and Bharti Airtel</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/web-3-0-saas-and-fintech-will-be-big-investment-focus-for-2022/articleshow/90819387.cms">Web 3.0, SaaS and fintech will be big focus areas for 2022 even though early stage investments are expected to slow down</a>

Infosys is looking to hire 50,000 employees this year while expecting the attrition rate to come down

<ul><li>Infosys has reported 7% on quarter rise in consolidated net profit to ₹5,809 crore in October-December quarter.</li><li>It has added eight new clients in the last three months with an annual revenue potential of $100 million or more.</li><li>However, the IT major continues to struggle with the highest number of employees leaving the organisation with an attrition rate at 25.5%.</li></ul>Technology services giant Infosys saw its revenue grow by 7% on quarter in constant currency terms, that’s the best in the last eight quarters. Subsequently, the Bengaluru-based company increased the guidance for full-year revenue growth to 19.5% to 20% from 16.5% to 17.5%. <div type="image" title="infosys revenue growth" height="900" width="1200" msid="88855633" hostid="261"></div>The IT major has added eight new clients in the last three months with an annual revenue potential of $100 million or more. "We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations”, said Salil Parekh, chief executive officer and managing director at Infosys. Infosys, which is the second largest information technology firm by market capitalisation, reported a 7% on quarter rise in consolidated net profit to ₹5,809 crore in October-December quarter. Revenue for the firm stood at ₹31,867 crore for the quarter. The IT firm continues to struggle with the highest number of employees leaving the organisation as its attrition rate stood at 25.5% with a total headcount of 2.92 lakh employees as of December 31, 2021. Rise in attrition leads to higher employee cost and narrower margins. This has been a problem for all technology companies in India in recent months. For Infosys, the margin shrunk by 190 basis points between October and December 2021 compared to the preceding three months. 100 basis points make one percent. “We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program to over 55,000 for FY22 to support our growth ambitions”, said Nilanjan Roy, chief financial officer at Infosys. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/infosys-saw-its-revenue-grow-by-7-in-q3-fy22/articleshow/88855661.cms">Infosys raises full year guidance after the best quarter in at least eight</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/wipro-guidance-for-dollar-revenue-is-2-to-4-percent/articleshow/88854705.cms">Wipro CEO says dollar revenue will grow 2-4% in the next three months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro increases hiring plan to 30,000 as attrition hits a new high</a>

Infosys raises full year guidance after the best revenue growth in at least eight quarters

<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> gave its employees 100% variable pay over the last three months and restarted the promotion process for junior level employees. </li><li>Over the next three months, the promotions process will also come in for senior employees along with any salary hikes. </li><li>However, Infosys CFO Nilanjan Roy highlighted that the new measures are likely to impact margins in the second half of the current fiscal year. </li><li>Infosys plans to add 16,000 freshers to its roster during the current fiscal and another 15,000 next year.</li></ul>Infosys has witnessed a stellar second quarter with a 16.2% jump in profits over the last three months. It’s rewarding its shareholders with an interim dividend of ₹12 per equity share and its reinstating wake hikes, promotions and other measures for employees. <div type="Article" hostid="261" msid="78659827" title="Infosys second quarter earnings deliver on all fronts led by highest ever deal wins worth $3.15 billion — raises annual guidance to 2% to 3%" mstype="2" mssubtype="0"></div> The impact of these measures, some rolled out between July to September, could already be seen in the company's voluntary attrition rate at 7.8%. "Attrition has come down dramatically due to more employee engagement during COVID-19," said Infosys COO Pravin Rao during the second quarter earnings call. Infosys added around 5,000 freshers and 2,500 new lateral hires to its rosters in the second quarter. According to Rao, the company is looking to add a total of 16,000 freshers overall during the current fiscal and another 15,000 next year. <div type="image" title="Copy of attrition rates it companies" msid="78660846" hostid="261" caption="&amp;lt;p&amp;gt;Infosys attrition rate drops to 7.8%, the lowest it&amp;#39;s been in at least the past three years&amp;lt;/p&amp;gt;"></div> Infosys rolls out incentives for employees In the second quarter, it has already doled 100% variable pay. Infosys’ junior employees were also awarded a one-time special incentive over the last three months. However, there is a flip side. These measures are likely to affect margins. “Going into the second half, some of these cost increases will now come back like wage hikes, promotions, hiring etc,” said Infosys CFO Nilanjan Roy. Even so, the company has increased in annual margin guidance to between 23% to 24% and hiked the annual revenue guidance to between 2% to 3%. Over the next three months, the salary increase process will be restarted for senior employees as well, effective from January 1, 2021. “I’m thankful to all our employees for staying deeply to serve our clients. They’ve navigated their own challenges associated with the ongoing coronavirus situation,” said CEO Salil Parekh. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-announces-16000-crore-buyback-strong-show-in-q2-with-over-20-rise-in-profit/articleshow/78536532.cms">TCS announces ₹16,000 crore buyback — strong show in Q2 with 7% rise in profit, margins near two-year high</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-dips-after-earnings-report-analysts-believe-it-will-take-a-while-to-catch-up-to-tcs-and-hcl-technologies/articleshow/78654023.cms">Wipro’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-thierry-delaporte-outlines-five-point-strategy-for-growth-looking-at-more-acquisitions-and-larger-deals/articleshow/78643942.cms">Wipro CEO Thierry Delaporte outlines five-point strategy for growth — looking at more acquisitions and larger deals</a>

Infosys to reinstate wage hikes, promotions and hiring — will impact margins over the next six months

New Delhi, Jan 24 () Infosys on Friday said it has not received any request from Sebi for conducting further investigation in the whistleblower case where top executives were accused of rigging the company's balance sheet.
 Sources had said market watchdog Securities and Exchange Board of India (Sebi) is likely to call for a forensic audit of books of Infosys as it continues to probe whistleblower allegations of alleged financial irregularities at the company.
 Earlier this month, Infosys had said its audit committee had found no evidence of financial impropriety or executive misconduct, virtually giving a clean chit to CEO Salil Parekh and CFO Nilanjan Roy who had been accused by anonymous whistleblowers.
 "The company has not received any request from Sebi to conduct further audits as reported by media on January 23, 2020," Infosys said in a regulatory filing on Friday.
 It added that as disclosed previously, the company had received letters from regulatory authorities seeking information on the anonymous whistleblower investigation.
 "The company continues to cooperate with regulatory authorities," Infosys noted.
 In one of the letters dated September 20 and signed by 'Ethical Employees', it was alleged that Infosys CEO Salil Parikh as well as its Chief Financial Officer Nilanjan Roy engaged in forced revenue recognition from large contracts not adhering to accounting standards. There was another undated complaint also.
 In October, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management. It then started a probe into the matter and roped in external investigators.
 The audit committee commissioned a through investigation with the assistance of an independent legal counsel.
 US market regulator SEC had also initiated a probe into the matter, while Rosen Law Firm had said it was preparing a class-action lawsuit to recover losses suffered by Infosys' investors in the US. 
 Shares of Infosys were trading Rs 774.70 apiece on the BSE, down 1.26 per cent from the previous close. SR ANS
ANS

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