IT Jobs: Infosys to Hire 45,000 College Graduates After Posting Strong Results in Second Quarter

At the end of June quarter, Infosys had said that it planned to hire 35,000 college graduates.

Bengaluru: Indian IT giant Infosys is expanding its hiring program for freshers as the Bengaluru based firm posted strong results for the quarter ending September 30, 2021, though attrition levels also witnessed a spike. Infosys said that it plans to hire 45,000 college graduates this fiscal as compared to earlier target of 35,000, according to a livemint report.

“In order to harness the full potential of the market opportunity, we are expanding our college graduates hiring program to 45,000 for the year. Simultaneously, we continue to strengthen employee value proposition including health and wellness measures, reskilling programs, appropriate compensation interventions and enhanced career growth opportunities”, Pravin Rao, Chief Operating Officer, was quoted as saying.

At the end of June quarter, Infosys had said that it planned to hire 35,000 college graduates. “As the demand for digital talent explodes, rising attrition in the industry poses a near-term challenge,” COO Pravin Rao had said earlier. At the end of the September 2021 quarter, employee attrition at Infosys stood at 20.1% on annualised basis as compared to year-earlier levels of 12.8%. Infosys had a headcount of 2,79,617 employees at the end of September quarter.

Infosys’ Q2FY22 YoY consolidated net profit up 11.9%

The IT major on Wednesday reported a 11.9 per cent year-on-year growth in its consolidated net profit after minority interest for the second quarter of FY22 at Rs 5,421 crore. Its net profit during the corresponding period of the previous fiscal (FY2020-21) stood at Rs 4,845 crore.

Besides, the company reported a revenue of Rs 29,602 crore during the period under review, higher by 20.5 per cent from Rs 24,570 crore earned during the second quarter of FY21. According to the company, operating margin for the quarter stood at 23.6 per cent. Furthermore, the IT major’s Board has announced an interim dividend of Rs 15 per share for FY22.

Recently, the company completed the open market share buyback on September 8 at an average price of Rs 1,649 per share. Consequent to the buyback, the share capital of the company has reduced by 1.31 per cent.

“Our stellar performance and robust growth outlook continue to demonstrate our strategic focus and the strength of our digital offerings,” MD and CEO Salil Parekh said. “Given this continued momentum we have further increased our revenue growth guidance to 16.5-17.5 per cent,” he added.

(With inputs from IANS)