Infosys to dish out average performance bonus of 90% for Q2

IT services company Infosys is handing out a 90 per cent average performance bonus to eligible employees for the quarter ended September, sources said.

The payout which will be disbursed with November-end salaries, covers employees in the mid to junior levels.

The performance bonus averages about 90 per cent this time around, sources said, adding it was at about 80 per cent in Q1.

The company could not be reached for comments.

Last month, India's second-largest IT services company posted a nearly 5 per cent rise in its second-quarter net profit and raised revenue guidance for the year on broad-based recovery in demand, particularly from its key financial industry clients.

Consolidated net profit of Rs 6,506 crore in July-September -- the second quarter of the current 2024-25 fiscal year -- was 4.7 per cent higher than the year-ago earnings and 2.2 per cent more than the net profit in the preceding quarter.

The technology services bellwether had for the second consecutive quarter raised its revenue guidance for the full fiscal.

Infosys said it expects constant currency revenue growth between 3.75 per cent and 4.5 per cent for the financial year April 2024 to March 2025, higher than its earlier guidance of 3 per cent to 4 per cent.

Infosys CEO and MD Salil Parekh had termed it a "huge upward movement" in growth guidance. The upward revision came on the back of a ramp-up of mega deals.