GOOD NEWS for Infosys employees! 100 pct variable pay, special incentive, salary hikes and promotions - What COO Pravin Rao confirmed

It is a big good news for the employees of India's second-biggest software firm - Infosys Ltd! COO Pravin Rao has confirmed that Infosys will also roll out salary increases, promotions across all levels effective Jan. 1. Rao confirmed that Infosys is giving 100% variable pay along with a special incentive for Q2.

“Employees have been critical part of our success. As a recognition of their stellar performance, we are giving 100% variable pay along with a special incentive for Q2. Additionally, we are rolling out salary increases and promotions across all levels effective Jan 1st,” Pravin Rao, COO, Infosys, said.

“The strength and resilience of Infosys was fully visible in Q2 with operating metrics witnessing a healthy increase, broad-based growth, highest ever large deal TCV at $ 3.15 bn and attrition reducing to single digits”, said Rao.

Moreover, Infosys Ltd on Wednesday raised its annual revenue growth forecast, after the software services firm posted a better-than-expected quarterly profit, buoyed by growth in client demand for its digital services during the pandemic.

The company, co-founded by billionaire NR Narayana Murthy, revised its annual revenue forecast to between 2% and 3% in constant currency terms, from an earlier expectation of revenue being flat to up 2%.

Infosys Ltd on Wednesday reported a 20.6% rise in September-quarter profit, helped by growth in client demand for its new-age digital services such as cloud, data and analytics during the pandemic.

Infosys said consolidated net profit climbed to 48.45 billion rupees ($661.35 million) from 40.19 billion rupees a year earlier. Revenue rose to 245.70 billion rupees from 226.29 billion rupees in the quarter.