Parekh invests in rapid talent expansion
Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY) continued to gain market share and see a significant pipeline driven by its Cobalt cloud capabilities and differentiated digital value proposition, CEO and MD Salil Parekh reported as part of Q1 financial performance.
“We are investing in rapid talent expansion while ensuring rewarding careers for our employees, to better serve evolving market opportunities.
“This has resulted in a strong performance in Q1 and increase in FY 23 revenue guidance to 14%-16%,” he said in a release on 24 July 2022.
“We are fueling the strong growth momentum with strategic investments in talent through hiring and competitive compensation revisions,” added Nilanjan Roy, Chief Financial Officer.
“While this will impact margins in the immediate term, it is expected to reduce attrition levels and position us well for future growth. We continue to optimize various cost levers to drive efficiency in operations,” he said.
Key highlights for the quarter ended 30 June 2022:
• Revenues in CC terms grew by 21.4% YoY and 5.5% QoQ
• Reported revenues at US$4,444 million, growth of 17.5% YoY
• Digital revenues at 61.0% of total revenues, YoY CC growth of 37.5%
• Operating margin at 20.0%, decline of 3.7% YoY and decline of 1.5% QoQ. fiinews.com
