Infosys reports ₹1,289-crore hit in Q3 due to new Labour Codes

Infosys reported ₹1,289-crore exceptional charge in its December quarter earnings on account of the statutory impact of newly implemented Labour Codes. The codes introduced changes regarding a uniform definition of wages and enhanced benefits relating to leave. "These changes…resulted in increase in gratuity liability arising out of past service cost and increase in leave liability," Infosys said.