Infosys Ltd closed the third quarter of FY24 with a consolidated net profit of Rs. 6,113 crore, marking a 7.2% decrease compared to the corresponding quarter of the previous year. The company reported a revenue of Rs. 38,821 crore for the quarter ending December 31, 2023, compared to Rs. 38,318 crore in the same period of the previous year.
As of December 31, 2023, Infosys had a total headcount of 322,663, with 304,590 software professionals and 18,073 in sales and support roles. The attrition rate was reported at 12.9%.
Infosys mentioned that its step-down subsidiary, Infosys McCamish, suffered a loss of Rs. 250 crore in revenue and costs due to a cybersecurity incident in November 2023. The company stated that Infosys McCamish may incur additional costs, indemnities, or damages, which are currently indeterminable.
Additionally, Infosys announced its intention to acquire 100% equity in InSemi Technology Services Private Ltd, a company with a revenue of Rs. 153.6 crore, for Rs. 280 crore. The acquisition is expected to be completed in the fourth quarter of fiscal year 2024, subject to customary closing conditions. InSemi Technology Services has a headcount of over 900 people.
(With Agency Inputs)
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