Good news from Infosys, they have a 6.1% increase in net profits. Market experts expected Infosys to make a profit of Rs 3,526 crores while this corporation recorded Rs 3,606 crore. Vishal Sikha who sent a letter of disappointment in July to the staff post first quater results, now gives a pay hike to top leadership including COO UB Pravin Rao. Read disappointment letter to employees from Vishak Sikka.
Pravin Rao will be getting new compensation from 1st Nov, includes fixed amount of Rs 4.62 crore per annum and a variable part of up to Rs 3.88 crore per annum. Additionally he will be given 27,250 restricted stock units (RSU) and 43,000 stock options, vested over a period of 4 years says Infosys.
The board announced a dividend Rs 11 an equity share. Vishal Sikka said Infosys added over 78 news clients in the past three months. The company now commits to a revenue target growth of 8-9% from their previous commitment of 10.5-12%. Infosys also inducted Surya Software Systems founder, DN Prahlad, as an independent director on its board. Read Vishal Sikka Kundali.
Mr Sikka is happy and said in a statement “Overall, I am extremely satisfied with the way our management team is taking shape for the times ahead”. Read more Latest Business News.