Infosys Foundation has signed a memorandum of understanding (MoU) with NGO Sahakara Mitra Samstha to enhance livelihood of the farming community in Andhra Pradesh and Telangana.
The philanthropic arm of Infosys has pledged Rs 5 crore to the NGO, also known as Center for Collective Development (CCD), to work on increasing revenue and profits of farmers and create awareness about sustainable agricultural practices by adopting efficient business models.
CCD will also aim to build sustainable farmer co-operative societies and facilitate pooling, processing as well as the sale of produce in two districts of Andhra Pradesh (Anantapur and Chittoor) and one district in Telangana (Adilabad), a company statement said.
It will also work towards bringing in new co-operatives from different areas to strengthen the federation activities of its association, set up new processing units and enable the creation of a district level forum where farmers can voice their issues, the statement added.
As part of its ongoing efforts towards rural development, the foundation intends to influence the livelihood of more than 15,000 small and marginal farmers through the work done by co-operatives under the CCD, it said.
The company said it has appointed Mohit Joshi, Ravi Kumar
S and Sandeep Dadlani as presidents with effective immediate effect.
Cash and cash equivalents, available-for-sale financial assets, certificates of deposits and government bonds were Rs 34,468 crore as of March 31, 2016.
"Our growth trajectory improved in FY16 and we navigated the external business environment well. We will continue to focus on leveraging operational efficiency levers for consistent profitable growth," Infosys CFO MD Ranganath said.
During the quarter, cash generation was strong and Infosys managed a volatile currency environment effectively, he added.
Infosys said its quarterly annualised attrition rate has declined to 17.3 per cent in January-March of 2016.
For the March quarter, Infosys' total headcount stood at 1,94,044 as against 1,76,187 a year ago.
Net additions in the March quarter stood at 661 people.
"Employee attrition reduced further in Q4, and is reflective of increased engagement with our people all through the year, and our steps to make Infosys an exciting place for the world's best talent. We continue to reimagine our internal processes to increase organisational agility," Infosys COO U B Pravin Rao said.
The momentum of large deal wins continued this quarter and bookings were strong, he added.
Infosys Board has recommended a final dividend of Rs 14.25 per equity share for the financial year ended March 2016.
In fiscal 2016, over Rs 216 crore (USD 33 million) contributed by Infosys was utilised across projects related to healthcare, education, culture, destitute care and rural development, it said.
In addition, the company has spent Rs 86 crore (USD 13 million) crore on multiple initiatives including Chennai flood disaster relief, environment sustainability and conservation of natural resources aimed at long-term sustainability of ecosystem.
