As per the quarterly financial results of Infosys, the Company’s workforce strength has seen a net decrease of 3,611 in January – March 2023. That means, the total headcount has now been reduced to about 3,43,234. At the end of the last quarter, that is, Q3 of FY23, Infosys had a total of 3,46,845 employees. That means, the rate of attrition has dipped. It has come down to 20.9 per cent, compared to 24.3 per cent in December 2022.
The attrition rate in June quarter of 2022 was 28.4 per cent, which got reduced to 27.1 per cent in September 2022. Clearly, the attrition rate has been steadily falling.
The Company posted 16 per cent year-on-year growth, with consolidated revenue at Rs 37,441 crore in Q4.
Infosys is confident on the strength of its deal pipeline and expects revenue growth guidance of four to seven per cent for FY24. The net profit reportedly increased by nine per cent for FY23, while revenue stood at Rs 146,767crore, 20.7 per cent higher.
Tata Consultancy Services (TCS) has also reported a drop in attrition rate in Q4. The IT major has posted a net profit of Rs 11,436 crore in Q4 of FY23. This is 14.8 per cent more year-on-year and 5.03 per cent more than was posted in the same quarter last year. Net margins of TCS stood at 19.3 per cent, and the operating margins stood at 24.5 per cent.
