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Canada slaps over CAD 13OK fine on Infosys over health tax underpayment

Global IT services provider Infosys has been fined CAD 134,822.38 (₹82 lakh) by the Canadian government for underpayment of employee health tax in 2020. The penalty, received on May 9, will not materially impact Infosys' finances or operations, according to a regulatory filing. The company's shares were down 0.09% following the news. Infosys recently announced its Q4 results, with a net profit of ₹7,975 crore and total revenues of ₹37,923 crore. For FY25, the company expects revenue growth of 1-3% in constant currency terms and an operating margin of 20-22%.

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