Business News. Infosys attrition rate zoomed to 27.7% in March quarter, up from 25.5% in the December quarter, but the management was confident that the rate was actually down in the last quarter.
Infosys has hired 85,000 freshers in the financial year gone by and is looking to hire upwards of 50,000 in the current fiscal.
The company has set a strong revenue growth guidance for FY23 at 13-15%, with operating margins at 21-23%. Signaling a slowing demand for software and IT services as companies exit work-from-home arrangements in a post-pandemic world, Infosys Q4 numbers came just short of estimates.
Net profit for the fourth quarter through March rose about 12% to ₹5,686 crore ($747 million), while analysts had expected a profit of ₹6,000 crore.
The company’s revenue for the January-March period rose 23% jump to ₹32,276 crore.
“Infosys delivered highest annual growth in a decade with broad-based performance driven by deeply differentiated digital and Infosys Cobalt led cloud capabilities, powered by ‘One Infosys’ approach. We continue to gain market share as a result of sustained clients’ confidence in our ability to successfully navigate their digital journeys”, said Infosys CEO and MD Salil Parekh.
Revenues in Constant Currency terms grew by 21% over last year and 1.2% sequentially, while reported dollar revenues came in at $4,280 million, a growth of 18% year-on-year.