Infosys Gets Big Jolt, Revenue Declines 11 Percent, TCS, Microsoft

Infosys included in large software companies decreased by about 11.75 percent on a year-by-year basis in the fourth quarter of the previous financial year. The company’s growth estimates for the current financial year also indicates increasing competition in this sector. Infosys has estimated up to three percent growth in revenue. However, the company’s margin guidance is estimated at 20-22 percent.

In the fourth quarter of the last financial year, Infosys has acquired a profit of about Rs 7,033 crore. This is a decline of about 11.75 percent compared to the same period of previous financial year. The company has increased by about 7.92 percent to Rs 40,925 crore on a year-by-year basis in the fourth quarter. The figure was Rs 37,923 crore in the same period of the previous financial year. The company has reported that Mitsubishi Heavy Industries (MHI) has invested in the Joint Venture Hipus headed by Infosys. This has increased the company’s presence in Japan.

“Japan is a strategic market for the company for the company, CEO of Infosys BPM, Anantha Radhakrishnan. The company’s reliable alliance with Customers in Japan from collabing with MHI has strengthened.” The company has said that in the current financial year it can hiring more than 20,000 freshers. The salary of the company’s workers will increase this month.

Recently, hundreds of freshers were trimmed in Infosys. The Union of IT workers had complained to the central government against this trimming. Earlier, the Labor Ministry of Karnataka said after preliminary investigation into the case that Infosys had not violated the rules. Nascent Information Technology Employees Senate (NITES) complained to Minister of Education, Dharmendra Pradhan and Minister of Skill Development and Entrepreneurship, Jayant Chaudhary on the trim of freshers in Infosys. NITES had alleged that Infosys had joined the new graduates under the National Apprenticeship Training Scheme (NATS) in October last year. The legally bound apprenticeship contracts were contract with these workers. However, Infosys has removed these freshers without following the legal process by violating the Apprenticeship Act.