India’s second-largest IT services giant Infosys today announced its first quarter results for the financial year 2024-25.
Infosys reported a consolidated Profit After Tax (PAT) of Rs 6,368 crore for the quarter ending June 30, 2024, marking a 7.1% increase from Rs 5,945 crore in the same period last year.
The company’s revenue from operations for the quarter stood at Rs 39,315 crore, a 3.6% rise from Rs 37,933 crore in the year-ago quarter. This growth highlights Infosys’ steady financial performance and operational resilience.
HR Insights
It giant reported a reduction of 1,908 employees in the first quarter ending June 30, from Q4FY24 which was 3,17,240, marking the sixth consecutive quarter of headcount decline.
This trend is likely due to Infosys’ shift in hiring strategy, focusing more on improving utilization rates.
Total Headcount for Q1 FY25 stood at 315,332, down from 336,294 in Q1 FY24, showing a year-on-year decrease of 20,962 employees. 3,17,240
Attrition Rate for Q1 on a last twelve-month basis slightly increased to 12.7%, up from 12.6% in the previous quarter.
In contrast, Tata Consultancy Services (TCS) added 5,452 employees on a net basis in Q1, reversing a three-quarter decline. Despite this addition, TCS’s overall headcount dropped by 8,320 compared to the Q1FY24.
Meanwhile, HCLTech experienced a sequential decline of 8,080 employees in Q1 FY25, however, this, dip in headcount occurred because Sate Steet Cop exited from HCLTech.
LTIMindtree bucked the trend by adding approximately 284 employees sequentially in Q1.
Key Takeaways
Infosys’ key quarterly highlights include a revised FY25 revenue guidance of 3-4%, up from 1-3%. Operating margin improved to 21.1%.
They secured a record 34 large deals worth $4.1 billion, with 57.6% being net new. Free cash flow surged 59.2% YoY to Rs 9,155 crore, and the employee count decreased to 315,332.
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