Infosys attrition rate continues to rise at 18% during December quarter

MYSORE: India’s second-largest technology outsourcer Infosys on Friday reported better-than-expected profits for the third quarter, but the company’s attrition rate continued to rise.

In the December quarter, Infosys’s employee attrition rate stood at 18%--the highest among tier-1 software firms. It is also the highest for the Bangalore-based company in the past two years.

Over the past seven months, the Bangalore based company has lost at least nine senior-level executives, including board member V Balakrishnan and global manufacturing head Ashok Vemuri. The company has also been struggling to retain talent in mid and junior levels. In the September quarter, Infosys’s attrition rate was at 17.3%.

At the end of the third quarter, Infosys said it had 1,58,404 employees, adding 6,682 employees during the quarter. The company said it had 1,35,869 billable employees during the three months up to December 31.

In a statement, Infosys said its net profit during the quarter rose to Rs 2,875 crore from Rs 2,369 crore for the year earlier period.