Infosys is the only Indian company to be listed in TIME’s Top 100 Best Companies

IT service provider Infosys Ltd is the only Indian company to make it to the top 100 list of the world’s best companies of 2023 by the renowned US magazine TIME. Bengaluru-based Infosys ranked 64th among 750 global companies with 88.38 points.

“Infosys has been named to the TIME World’s Best Companies 2023 list. We are among the top 3 global professional services companies and the only brand from India in the top 100 global ranking,” Infosys said.

The software services giant’s sustainability rank is 135, while its employee satisfaction rank is 103, with a “high” growth rate.

Microsoft, Apple, Google parent company Alphabet and Meta Platforms (formerly Facebook) are the top four companies in Statista and TIME’s new statistical ranking of the world’s 750 best companies.

Other companies in the top 10 list include Pfizer, American Express, Electrcite de France, BMW Group and Dell Technologies.

Also Read: Infosys to release Q2 results and interim dividend on October 12

“The ranking is based on a formula of revenue growth, employee satisfaction surveys and rigorous environmental, social and corporate governance (ESG or sustainability) data,” says TIME Magazine.

Additionally, Infosys has partnered with a “global company (name withheld)” to provide AI services using its platforms and AI solutions. “Infosys has signed a memorandum of understanding with a global company to deliver enhanced digital experiences, modernization and business operations services leveraging Infosys platforms and AI solutions,” Infosys said in a statement.

The company says total customer spending is estimated at $1.5 billion over 15 years, which is contingent on the parties entering into a master agreement.

Infosys had in May 2023 announced the launch of Topaz – an AI-first suite of services, solutions and platforms leveraging generative artificial intelligence (AI) technologies.

Also Read: Infosys Completes Acquisition of Danske Bank’s IT Center in India; Inventory reduced

Infosys says Topaz will bring together the power of Infosys Cobalt cloud and data analytics to power AI business, delivering solutions and intuitive experiences that drive growth. The platform leverages Infosys’ applied AI framework to build an AI-first core that includes 12,000+ AI use cases, 150+ pre-trained AI models, and 10+ AI platforms.

Shares of Infosys gained up to 0.36% to ₹1,511.350 in intraday trade today after opening higher at ₹1,515.35 against the previous close of ₹1,506.75 on the BSE.

In the first quarter of fiscal 2024, Infosys posted a 10.9% growth in net profit at ₹ 5,945 crore compared to ₹ 5,362 crore in the year-ago period. Revenue rose 10% to ₹37,933 crore as against ₹34,470 crore in the year-ago quarter. Operating profit rose 14.1% year-on-year to ₹7,891 crore, while operating margin increased 20.8% from 20.1% in the year-ago period.

Also Read: Infosys’ first quarter profit rose 11% to ₹5,945; cuts the sales forecast for the 2024 financial year

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Sybil Alvarez

"Incurable gamer. Infuriatingly humble coffee specialist. Professional music advocate."

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