New Delhi: In a bid to safeguard the company's interest, India's second-largest IT services provider, Infosys, on Wednesday said that the company is moving its business out of Russia due to the conflict in the region.
"Seeing the situation we have started the transition of our business and all of our work from the centres from Russia to outside Russia," Infosys CEO and MD Salil Parekh said, according to news ANI.
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Speaking to media after announcing the FY22 results on Wednesday, Infosys CEO and MD Salil Parekh has been quoted in Moneycontrol report as saying, “We don't do any business with Russian clients today and we have no plans of doing business.”
The development comes at a time when Infosys founder’s son-in-law Narayana Murthy, Rishi Sunak, who’s UK Chancellor of Exchequer has come under fire over wife Akshata Murthy's stake in the company.
The company, which had operations in Russia, shut down its Moscow centre, according to BBC report.
Parekh said Infosys has less than 100 employees in Russia. "We don't have clients in Russia. The work we do in Russia is for the global clients, which we have started a transition. At this stage we have no impact on our business from an Infosys perspective," he said.
However, he added the company remains concerned over the developments in the region. "We are very concerned about what's going on, on the ground," Parekh said.
He said the company would help its employees in Russia to relocate and work in other geographies, especially in East Europe.
In its fourth quarter Infosys reported a consolidated net profit of Rs 5,686 crore against Rs 5,076 crore in the corresponding quarter of the previous year, registering a year-on-year growth of 12 per cent. The company's revenue surged by 23 per cent to Rs 32,276 crore in January-March 2022 quarter as against Rs 26,311 crore recorded in the corresponding period of last year.