Infosys Q4 Results: Attrition Declines To 20.9%; Low Hiring, Employee Headcount Reduces By 3,611 QoQ

Infosys Q4 Results: IT services company Infosys on Thursday announced its quarter four results (Jan 1, 2023 to March 31, 2023). Infosys posted nearly 8% increase in consolidated net profit at Rs 6,128 crore for the quarter ended March 31, 2023.

In dollar terms, Infosys revenue during Q4 stood at $4,554 million, a rise of 6.4% as compared with $4,280 million a year ago, according to a regulatory filing.

The IT major had posted a net profit of Rs 5,696 crore in the year-ago period.

The company’s voluntary attrition (LTM – IT Services) stood at 20.9%, showing a declining trend. The company’s total employee counts at the end of quarter four stood at 3,43,234, which is lesser by 3,611 from quarter three headcount of 3,46,845.

Attrition has continued its downward trajectory. After reaching 28.4% in Q1FY23, it slipped to 27.1% in Q2FY23 on a trailing twelve-month basis.

During the third quarter, the company had added 1,627 employees, which was a decrease from the previous quarter.

Meanwhile, Infosys declared its Q4FY23 financial results on April 13 and also announced the final dividend of Rs 17.50/ per share for 2022-23 at its annual general meeting.

Salil Parekh, CEO and MD, Infosys, said, “Our strong performance in FY23 is a testimony to the continued focus on digital, cloud and automation capabilities which resonated with our clients. We have launched exciting programs with our clients leveraging generative AI platforms.”

“As the environment has changed, we see strong interest from our clients for efficiency, cost and consolidation opportunities, resulting in a strong large deal pipeline. We have expanded our internal program on efficiency and cost to build a path to higher margins in the medium term. We continue to invest in our people and in supporting our clients,” he added.

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