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    AON   AU000000AON7

APOLLO MINERALS LIMITED

(AON)
Delayed Australian Stock Exchange  -  11:56 2022-11-27 pm EST
0.0490 AUD   -2.00%
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India likely to see double digit pay rises in 2023 - study

09/26/2022 | 07:11am EST
FILE PHOTO: A man walks along a wall overlooking the central Mumbai's financial district skyline

BENGALURU (Reuters) - Indian employers are likely to raise staff pay by 10.4% next year, almost on par with the 10.6% so far in 2022, Aon PLC said on Monday.

The prospects of a double-digit salary increase comes as the south Asian country grapples with soaring inflation amid fears of a global economic slowdown. India's inflation rose to 7% in August and has stayed above the central bank's tolerance level for eight straight months to August.

"This (salary) increase is a reflection of the confidence that corporate India has on its strong business performance," Roopank Chaudhary, partner, human capital solutions at Aon in India, said in a statement, based on a survey.

The survey analysed data from 1,300 companies across more than 40 industries.

Business leaders, however, need to balance the impact of rising costs and salary pressures with a relatively high rate of attrition and the ongoing demand for critical talent, Chaudhary said.

Staff exits in the first six months of this year remained high at 20.3%, but marginally lower than the 21% in 2021, the survey showed.

E-commerce leads sectors with the highest projected salary increase of 12.8%, followed by start-ups at 12.7%, hi-tech/information technology and IT-enabled services at 11.3% and financial institutions at 10.7%.

(Reporting by Ashish Chandra in Bengaluru; Editing by Dhanya Ann Thoppil)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AON PLC -0.59% 305.27 Delayed Quote.1.57%
APOLLO MINERALS LIMITED -2.00% 0.049 Delayed Quote.-38.27%
All news about APOLLO MINERALS LIMITED
11/08Apollo Minerals Defines Initial Exploration Target at Gabon Zinc-Lead Project
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09/26India likely to see double digit pay rises in 2023 - study
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Financials
Sales 2022 0,03 M 0,02 M 0,02 M
Net income 2022 -1,82 M -1,21 M -1,21 M
Net cash 2022 3,69 M 2,46 M 2,46 M
P/E ratio 2022 -13,4x
Yield 2022 -
Capitalization 23,6 M 15,8 M 15,8 M
EV / Sales 2021 1 062x
EV / Sales 2022 872x
Nbr of Employees 1
Free-Float 67,7%
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Managers and Directors
Neil Inwood Managing Director & Executive Director
Lachlan Ethan Lynch Chief Financial Officer & Secretary
John Paul Welborn Non-Executive Chairman
Ian Peter Middlemas Non-Executive Director
Robert Arthur Behets Non-Executive Director