Infosys to hire 35,000 college graduates2 min read . Updated: 14 Jul 2021, 05:26 PM IST
- Infosys hiring: The IT company said attrition remains a near-term challenge and it will expand its hiring program for college graduates
Infosys plans to hire 35,000 college graduates for FY22 globally, according to Chief Operating Officer Pravin Rao. Infosys had a total employee base of 2.67 lakh at the end of June quarter, as compared to 2.59 lakh in the March quarter.
“As the demand for digital talent explodes, rising attrition in the industry poses a near-term challenge. We plan to meet this demand by expanding our hiring program of college graduates for FY 22 to 35,000 globally," he said.
Voluntary attrition in IT services at Infosys rose to 13.9% in the June quarter as compared to 10.9% in the March quarter. However, the attrition level is down from 15.6% reported in the June quarter of the previous year.
“We rolled out several intense employee engagement initiatives including career acceleration opportunities, compensation reviews and learning & development interventions," COO Rao said.
Bengaluru-based Infosys today reported a 22.7% jump in quarterly profit with consolidated net profit rising to ₹5,195 crore in the three months to June 30, from a year earlier, while revenue from operations climbed 17.9% to ₹27,896 crore.
Large deal flows remained strong with TCV of $2.6 billion in June quarter. Operating margin for the quarter was robust at 23.7%.
In constant currency terms, revenues grew by 16.9% YoY and 4.8% QoQ while digital revenues were at 53.9% of total revenues.
Infosys also maintained its margin forecast for fiscal 2022 at 22% to 24%.
“Driven by the dedication of our employees and the trust of our clients, we grew at the fastest pace in Q1 in a decade, at 16.9% year-on-year and 4.8% quarter-on-quarter in constant currency. I am proud of our employees, who as ‘One Infosys’ demonstrate resilience and commitment in delivering for our clients. This gives us confidence to increase our revenue growth guidance to 14%-16%," said Salil Parekh, CEO and MD.
Indian IT services companies have benefited from a trend of ramp-up in investments by global companies in services ranging from cloud-computing, digital payment infrastructure, crypto platforms to cyber-security.
Rival TCS had earlier said that it will be hiring more than 40,000 freshers from campuses. The company, the largest employer in the private sector with a base of over 5 lakh employees, had hired 40,000 graduates from campuses last year.
Earlier this week, India's biggest IT company TCS had reported a 29% rise in quarterly profit, powered by higher demand for cloud services and strong growth in its mainstay banking and finance business.
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