Infosys to roll out salary hikes, raises revenue forecast

By Vibhuti Sharma

BENGALURU (Reuters) – Infosys Ltd on Wednesday raised its annual revenue growth forecast, after the Indian 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%.

Bengaluru-based Infosys, which provides services such as cloud, data and analytics to companies across the world, said it will also roll out salary increases, promotions across all levels effective Jan. 1.

“Infosys results today … signifies how important it has become for enterprises to invest in IT to weather any disruptive situation – be it pandemic or an economic recession,” Forrester analyst Ashutosh Sharma said.

Infosys reported quarterly operating margin of 25.4%, up from 21.7% last year,

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