IT services company Infosys is handing out a 90 per cent average performance bonus to eligible employees for the quarter ended September. The payout which will be disbursed with November-end salaries, covers employees in the mid to junior levels.
The performance bonus averages about 90 per cent this time around, sources said, adding it was at about 80 per cent in Q1. Last month, India's second-largest IT services company posted a nearly 5 per cent rise in its second-quarter net profit and raised revenue guidance for the year on broad-based recovery in demand, particularly from its key financial industry clients.
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Consolidated net profit of ₹6,506 crore in July-September -- the second quarter of the current 2024-25 fiscal year -- was 4.7 per cent higher than the year-ago earnings and 2.2 per cent more than the net profit in the preceding quarter. The technology services bellwether had for the second consecutive quarter raised its revenue guidance for the full fiscal.
Infosys said it expects constant currency revenue growth between 3.75 per cent and 4.5 per cent for the financial year April 2024 to March 2025, higher than its earlier guidance of 3 per cent to 4 per cent. Infosys CEO and MD Salil Parekh had termed it a "huge upward movement" in growth guidance. The upward revision came on the back of a ramp-up of mega deals.
Infosys said it expects constant currency revenue growth between 3.75 per cent and 4.5 per cent for the financial year April 2024 to March 2025, higher than its earlier guidance of 3 per cent to 4 per cent. Infosys said it expects constant currency revenue growth between 3.75 per cent and 4.5 per cent for the financial year April 2024 to March 2025, higher than its earlier guidance of 3 per cent to 4 per cent.
On a sequential basis, Infosys' net profit rose 2.2 per cent compared to ₹6,368 crore in the preceding April-June quarter. Revenues in constant currency (CC) terms rose 3.3 per cent YoY and 3.1 per cent sequentially. Earnings before interest and tax (EBIT) stood at ₹8,649 crore, up 4.4 per cent sequentially, compared to ₹8,288 crore in the preceding June quarter. EBIT margin for the September quarter remained flat at 21.1 per cent.
