Markets◆ Mixed
Zoho’s pay freeze signals broader AI-led pressures for India’s software industry
Indian markets moved higher for FY23.
· LiveMint Companies
Zoho’s profitability has come under pressure since FY23, the year OpenAI brought generative AI into the mainstream with the launch of ChatGPT in November 2022. While Zoho’s profitability rose 3% in FY23, its employee costs jumped 49%.
Key facts
- Period
- FY23