India’s second-largest IT company Infosys private limited announces a salary hike for all of its employees from January 2021. The hike was expected to occur earlier this year but because of the COVID-19 pandemic, the company decided to freeze the hike for precautionary reasons.
The chief operating officer of Infosys said: “The quantum of increase will be identical to what we have done in the previous years.”
Infosys reviewed the decision that froze the salary hikes of employees after reporting a good profit in the second quarter of the financial year which ended on 30th September and thus the company decided to reward their employees with increased salary. The hikes are expected around six percent for employees in India and between 1-1.5 1-1.5 percent for those located overseas.
Infosys reported a growth of 14 percent in its net profit of Rs 4,845 crore in the second quarter from July to September, thus its revenue increased by 3.82 percent sequentially to ₹ 24,570 crore. The growth was reported because of the increase in client demand for its service. “Increase in revenue and margin outlook for FY21 is due to the continued trust clients have in us. I am extremely proud of our team for achieving these results in challenging business conditions globally,” said Salil Parekh, CEO and managing director of Infosys.
