Infosys has appointed Nitin Paranjpe as non-executive vice chairman of its board with immediate effect, as reported by CNBC TV18. The company stated that the Board of Directors approved Paranjpe's appointment, who currently serves as non-executive chairman of Hindustan Unilever Ltd and non-executive vice chairman of Heineken NV. Infosys chairman Nandan Nilekani welcomed the move, stating "We are delighted to have Nitin in this position. His expertise has already made a significant impact on the Board, and we look forward to his continued leadership in this expanded role." As vice chairman, Paranjpe will support the chairman in guiding the board and its strategic agenda, bringing his extensive leadership experience to the role.
Infosys CEO and MD Salil Parekh has ruled out any layoffs in the near future, stating the company has maintained its hiring plans despite industry challenges. According to reports from Upstox, Parekh said in an interview with Moneycontrol that "We've not had any of that in the last year and we don't see anything of that sort coming up in the future." The company has onboarded around 20,000 college graduates in the past year and is targeting a similar intake in the current fiscal year. This contrasts with some industry peers who have announced workforce reductions amid the current IT slowdown.
Infosys reported a net profit of ₹8,501 crore in the January-March quarter, marking an increase of 21% from ₹7,033 crore in the same period last year. As reported by Upstox, on a sequential basis, the company's profit jumped 28% from ₹6,654 crore in the previous quarter. However, shares came under pressure last week, falling 7% on Friday after the IT major reported its March-quarter and full-year results and issued a subdued growth outlook for FY27. For the financial year 2026, Infosys clocked revenue of $20,158 million, registering a growth of 3.1%. According to CNBC TV18, shares of Infosys closed at ₹1,182.60 on the NSE, up 1.29% for the day following the leadership announcement.
Despite current challenges, Parekh expressed optimism about the company's AI-led strategy, stating that "We are now driving AI growth, and as that becomes a larger part of our mix, we'll see more traction." According to Upstox, the company has built partnerships with foundational model firms such as OpenAI and Anthropic, alongside its internal AI platform "Topaz Fabric," to support enterprise transformation and software development. Infosys has guided for revenue growth of 1.5–3.5% for FY27, which is below market expectations, indicating another year of muted expansion for the IT sector.
Addressing concerns about AI-led pricing pressure, Parekh acknowledged some compression in certain segments but maintained overall growth resilience. As reported by Upstox, he said "We do see compression, and we showcased where the growth is and some of the services which witness the compression that you mentioned or the deflation. Overall, however, we had growth last year." When asked about losing some large deals to competitors, Parekh emphasized the company's disciplined approach, stating "We are very competitive in deals, we're very active in the market...these are one or two situations where when the economic profile doesn't match what we want to do, we are much more rigorous about it."
