Infosys to shut all operations in Russia, plans to move out amid war against Ukraine

As the ruthless war in Ukraine enters its seventh week, India’s second-largest IT services provider - Infosys on Wednesday, April 13, declared the pullout of all its business operations from Russia in light of the conflict.

In view of the dire situation, Infosys CEO and MD Salil Parekh announced the company's decision to exit the business. Seeing the situation, we have started the transition of our business and all of our work from the centres in Russia to outside Russia, "Salil Parekh informed.

Infosys to move out of Russia amid dire situation: CEO Salil Parekh

His remarks came in response to a question regarding the impact of war on the business of the firm. Speaking further, Parekh informed that the organization has hired less than 100 employees in Russia, and the company doesn’t even have any clients in the nation currently.

"We don't have clients in Russia. We do the work in Russia for global clients for whom we have started a transition. At this stage, we have no impact on our business from an Infosys perspective," Parekh stated, while adding that the company has deliberated on moving out of the nation since they work for global clients from Moscow.

Besides, the tech giant’s CEO clarified that the ongoing war had not impacted business at Infosys. Although the company has decided to shun operations, they have expressed concerns regarding the prevailing situation. "We are very concerned about what's going on, on the ground," Parekh said. In addition, the Indian tech conglomerate is willing to relocate its employees to other geographies in Europe,  to work from outside Russia.

Infosys marks a 12% YoY growth in last quarter of 2021-22 fiscal

The revelations were made by Parekh during an event on Thursday, where he was detailing the company’s financial status for the fourth quarter of the 2021-2022 financial year. The last quarter of the bygone fiscal proved to be profitable for Infosys as the company reported a consolidated net profit of Rs 5,686 crore for the fourth quarter of 2021-22 as against Rs 5,076 crore in the corresponding quarter of the previous year (2020-2021). It has registered a 12% YoY growth (year-on-year). The company's revenue increased by 23% to Rs 32,276 crore in the January-March 2022 quarter, compared to Rs 26,311 crore in the same quarter the previous year.

The decision by Infosys comes at a time when India had maintained its stance of withdrawing itself from taking punitive actions against Russia for its Ukraine invasion, despite constant nudging by the West.

With ANI Inputs