Infosys Q1 results: IT major’s attrition rate improves, employee headcount falls marginally
It is worth noting that the IT major, delivered 4.2 per cent YoY growth in revenue. The large deal TCV for the quarter was at $2.3 billion, with net new of 56.1 per cent. Operating margin for the quarter was at 20.8 per cent.
- Jul 20, 2023,
- Updated Jul 20, 2023 4:16 PM IST
Indian IT services company Infosys declared its Q1 FY 2023-24 results on Thursday. The attrition rate at the company has improved over 300 bps and stands at 17.3 per cent. Moreover, the net employee headcount has seen a marginal decline.
The total employee headcount for Q1 FY24 stood at 3,36,294, while the employee headcount for Q4 FY 23 stood at 3,43,234.
It is worth noting that the IT major, delivered 4.2 per cent YoY growth in revenue. The large deal TCV for the quarter was at $2.3 billion, with net new of 56.1 per cent. Operating margin for the quarter was at 20.8 per cent.
Moreover, the FY24 revenue guidance revised to 1.0-3.5 per cent and the operating margin guidance retained at 20-22 per cent.
Salil Parekh, the CEO of the company said, "We have expanded the margin improvement program with a holistic set of actions for the short, medium and long-term, working on five key areas, supported by our leadership team."
Indian IT services company Infosys declared its Q1 FY 2023-24 results on Thursday. The attrition rate at the company has improved over 300 bps and stands at 17.3 per cent. Moreover, the net employee headcount has seen a marginal decline.
The total employee headcount for Q1 FY24 stood at 3,36,294, while the employee headcount for Q4 FY 23 stood at 3,43,234.
It is worth noting that the IT major, delivered 4.2 per cent YoY growth in revenue. The large deal TCV for the quarter was at $2.3 billion, with net new of 56.1 per cent. Operating margin for the quarter was at 20.8 per cent.
Moreover, the FY24 revenue guidance revised to 1.0-3.5 per cent and the operating margin guidance retained at 20-22 per cent.
Salil Parekh, the CEO of the company said, "We have expanded the margin improvement program with a holistic set of actions for the short, medium and long-term, working on five key areas, supported by our leadership team."