Tuesday, May 21, 2013

Infosys visa cost jumped 50perecnt in FY13

Stricter norms and higher rejection rate of work permits have pushed up the visa-related cost of country's second largest software services company, Infosys by more than 50% to Rs 308 crore in 2012-13 fiscal.

According to Infosys' Annual Report 2012-13 , the company's overseas travel expenses included visa charges of Rs 308 crore for year 2012-13.
Compared to visa charges of Rs 202 crore in 2011-12, the cost of work permits for the company has gone up by 52.4%, the report said. Difficult visa norms are adversely impacting the operating margins of the Indian IT players, who get close to 80% of their revenues from the US and Europe.

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