RANK 2 INFOSYS
SALIL PAREKH
CEO & MD
Infosys offers next-generation digital services and consulting, serving clients in over 56 countries to facilitate their digital transformation. As of fiscal 2023, the company has 3,43,234 employees with 39.4 per cent of workers are women and serves 1,872 active clients.
Infosys generated total revenues of `1,46,767 crore. Net profit for Fy23 was `24,108 crore, an increase of 8.9% compared to Fy22’s `22,146 crore. Over the past five years, Infosys experienced CAGR of 11.8% in net profits, with `19,423 crore in Fy21 and `16,639 crore in Fy20, respectively.
RISK OF ECONOMIC AMBIGUITY
Indian IT companies are currently facing a decline, twice as severe as benchmark indices, echoing the tech meltdown in the US, besides the aftermath of Covid-19. The main driver is the fear of US recession, a crucial market for the Indian tech firms. Infosys’ performance in Q4-2022 reflects the wider impact of the US banking crisis, affecting various sectors beyond BFSI. The company acknowledged the challenges and considers new strategies to increase market share amidst issues such as sluggish growth, supply chain disruptions, soaring prices, rising interest rates, and recession concerns.
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