Infosys Q2 results: IT company’s headcount down 7,530 sequentially

Indian IT company Infosys announced its Q2 FY 24 results on Thursday. The company reported a net fall of 7,530 employees in its headcount sequentially.

Infosys has 3,28,764 employees on its roll as of September 2023, as per its quarterly results. The company had 3,36,294 employees in the previous quarter.

The headcount also dipped when compared to the year ago quarter. The headcount is down 16,454 YoY.

CEO and MD Salil Parekh noted in a statement that the company is operating in an uncertain environment due to the macroeconomic headwinds. “This, in an uncertain macro-environment, is a testament to our ability to pivot and stay relevant to the evolving client needs, by delivering the benefits of transformation as well as productivity and cost savings at scale,” Parekh said.

The IT major reported a 3 per cent year-on-year (YoY) rise in net profit after (minority interest) at Rs 6212 crore for the September quarter compared with Rs 6026  crore in the corresponding quarter last year.  Revenue in the September quarter rose 6.7 per cent to Rs 38,994 crore in Q2 against Rs 36,538 crore in the corresponding quarter of the last year.  

The CEO noted that the company witnessed its highest large deals value at $7.7 billion in the quarter. He also added that clients have continued to show interest in AI products and services.

“We had our highest large deals value at $7.7 billion in Q2 spread across all verticals and geographies. Strong H1 performance with significant large deal wins, builds a solid foundation for the future. The growing adoption of our Generative AI offering, Topaz, is helping us deliver consistent value and expand market share”, he added.

The IT major announced an interim dividend of Rs 18 per share. CFO Nilanjan Roy said, “In line with our capital allocation policy, the Board has announced an interim dividend of ` 18 per share, an increase of 9.1 per cent over last year.”