Covid-19: Infosys refrains from revenue guidance, freezes hiring and salary hikes

Bengaluru: Infosys Ltd, India’s second largest software exporter by revenue, on Monday followed the trend set by its peers by refraining from projecting revenue growth guidance for FY21, on the back of the impact of Covid-19.

Last week, Wipro Ltd refrained from giving quarterly guidance, and others such as Cognizant have withdrawn its earlier guidance due to the uncertainties in business environment.

“Considering the business uncertainty emanating from covid-19, the company is unable to provide guidance on revenues and margins for FY21 at this stage. The company will provide guidance after visibility improves,” Infosys said in a statement.