Work From Home Ends: With the situation improving and the number of COVID cases declining, a section of IT giants are keen on returning to normalcy. For calling employees back to the workplace, India’s second-largest software services company Infosys has devised a phase-wise plan.
New Delhi: The coronavirus pandemic had forced millions of companies to switch to working from home, and multiple firms have elected to make this move a permanent feature of their business models. However, with the situation improving and the number of COVID cases declining, a section of IT giants are keen on returning to normalcy. For calling employees back to the workplace, India’s second-largest software services company Infosys has devised a phase-wise plan.
How Infosys Plans to Get Employees Back to Office?
After announcing the company’s Q4 results, Infosys’ CFO Nilanjan Roy elaborated the company’s phase-wise plan for the employees’ return to offices.
First Phase: Speaking to reporters, Roy said, “In the first phase are the people who are in the home locations, which could be in the DC (Development Centre) or join the DC near their home town. We are encouraging people to come at least twice a week.”
Second Phase: In the second phase, the employees will be asked to prepare over the next few months to see if they can come back to the centers. “This is again based on individual circumstances,” he added.
“Over a period of time, we are looking at a more hybrid work model. This will depend on clients, the regulatory environment, and a number of other considerations. So this will be a phased approach and we are seeing it as really important,” Roy said. Of the total 3,14,015 employees, 95 per cent of the company’s workforce is currently working from home.
Infosys Q4 Net Profit up 12% at Rs 5,686 Crore
Infosys on Wednesday posted 12% year-on-year rise in consolidated net profit at Rs 5,686 crore for March quarter 2021-22. The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,076 crore in the corresponding period the previous year, according to a regulatory filing. Infosys’ revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period, it added.
The IT services giant has pegged revenue growth outlook at 13-15 per cent for 2022-23. In last fiscal year, Infosys’ net profit was up 14.3 per cent to Rs 22,110 crore, while revenue was higher 21 per cent to Rs 1,21,641 crore compared to the previous fiscal year. “We continue to gain market share as a result of sustained clients’ confidence in our ability to successfully navigate their digital journeys,” Salil Parekh, CEO and MD of Infosys, said in a statement.
For 2021-22, Infosys board has recommended a final dividend of Rs 16 per share. “With a robust demand environment ahead, we envisage making appropriate long-term investments in capability building across sales, delivery and innovation. However, we plan to neutralize some of the impact through aggressive cost optimization programs and value-led pricing driven by service and brand differentiation. This, along with post-pandemic normalization of expenses, is reflected in the margin guidance,” Roy, Chief Financial Officer stated.