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Infosys views its deal pipeline and booking as robust and continues to expect improvement in client sentiment after the positive commentary by the US Fed in December 2023.
"We have gone ahead and rolled out our annual salary increase with effect from April 1st. Our operating margin of 23.2% reflects the 200-bps impact of this hike, offset through improved efficiencies," TCS CFO Samir Seksaria said.
Infosys also saw a one-time impact on revenue, according to the company's leadership.
Bengaluru-based Wipro has seen the sharpest decline of 94.7% from 11,475 net additions in July-Sept 2021 to 605 net additions in July-Sept 2022.
While Infosys does not support dual employment; CEO Salil Parekh has said external gig opportunities are fine.