IT major Infosys hiked the salaries of its employees for the year 2023-24.
According to an Economic Times report, the company's salary revision applies to a huge number of its employees, but not to entry-level staff.
The revision is likely to be below 10 per cent.
The company, in a communique to the employees, said, "We are pleased to revise your compensation in acknowledgment of your commitment and performance with effect from November 1, 2023," reports ET.
The IT major, which usually announces hikes in April, had delayed the announcement. The revised salary will be effective from November 1.
In the letter, the company also thanked the employees for their "un-paralleled support and efforts to overcome the current challenges and ensure success in all aspects."
Infosys had reported a 3.17 per cent increase in net profit to ₹6,212 crore in the July-September quarter compared to ₹6,012 crore reported in the corresponding period last year.
Meanwhile, shares of the company jumped more than five per cent on Friday to Rs 1,576.55.
