Infosys Ltd.

Country’s No. 3 software service provider, Wipro, has hiked the salaries of its Indian employees by 8%, while for the overseas employees the salaries have been raised by 2-3%, with effect from July 1, 2012.  The move of the company is much against the trend been followed by most of the IT companies in today’s scenario, where the shortage of projects from Europe and the US have forced software engineers to sit without projects for more than six months now.  Recently, software services major Infosys averred that it would stick to its target of hiring 35,000 people this fiscal but would abstain from hiking the wages for now.

The company has registered a fall of 5.03% in its net profit at Rs 1158.00 crore for the quarter under review as compared to Rs 1219.30 crore for the same quarter in the previous year. However, the total income of the company has increased by 18.69% at Rs 892.75 crore for Q1FY13 as compared Rs 752.15 crore for the corresponding quarter previous year.