Infosys is planning to hire 35,000 college graduates for FY22 worldwide, according to Chief Operating Officer Mr Pravin Rao. Infosys had a total workforce of 2.67 lakh at the end of the June quarter compared to 2.59 lakh in the March quarter.
“As the demand for digital talent is exploding, 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 stated.
Voluntary attrition in IT services at Infosys rose to 13.9 per cent in the June quarter compared to the 10.9 per cent in the March quarter. However, the attrition level is down from 15.6 per cent 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 Mr Rao said.
Bengaluru-based Infosys today reported a 22.7 per cent jump in quarterly profit, with consolidated net profit rising to ₹5,195 crores in the three months to June 30, from a year earlier, while revenue from operations climbed 17.9 per cent to Rupees 27,896 crores.
Large deal flows remained strong with TCV of $2.6 billion in the June quarter. The operating margin for the quarter was robust at 23.7 per cent.
In constant currency terms, revenues grew by 16.9 per cent YoY and 4.8 per cent QoQ while digital payments were 53.9 per cent of total revenues.
Infosys also maintained its margin forecast for fiscal 2022 at 22 per cent to 24 per cent.
“Driven by the dedication of our workforce and the trust of our customers, we grew with the fastest pace in Q1 in a decade, at 16.9 per cent year-on-year and 4.8 per cent quarter-on-quarter in constant currency. As ‘ One Infosys ‘, I am proud of our employees, who demonstrate resilience and commitment in delivering for our clients. This gives us the confidence to accelerate our revenue growth guidance to 14 per cent-16 per cent,” said Mr Salil Parekh, CEO and MD.
Indian IT services companies have benefited from a trend of a 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 would be hiring more than 40,000 freshers from campuses. The firm, which is the major employer in the private sector with a base of over five lakh employees, had hired 40,000 graduates from campuses last year.
Earlier this week, India’s biggest IT company TCS had reported a 29 per cent rise in their quarterly profit, powered by higher demand for cloud services and strong growth in its mainstay banking and finance business.