Infosys, the second largest Information Technology (IT) company has announced to hire 35,000 college graduates this financial year. “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,” said Pravin Rao, chief operating officer, Infosys.
“Employee wellbeing is of paramount importance to us and we have had multiple interventions in this regard including facilitating vaccination for them and their dependents. We rolled out several intense employee engagement initiatives including career acceleration opportunities, compensation reviews and learning & development interventions,” Rao added.
The IT behemoth posted a net consolidated profit of Rs 5,195 crore for the quarter ended June 2021. The consolidated revenue increased to Rs 27,896 crore during the quarter, the company said in a stock-exchange filing. The company signed large deals worth $2.6 billion during the quarter ended June. The operating margin for the quarter was robust at 23.7%, with free cash flows growing by 18.5% year on year, it added.
“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, chief executive officer and managing director, Infosys.
“Our clients continue to be supportive of the multiple initiatives we have undertaken; they value the delivery commitments we have met even during these extraordinary times,” COO said.
“We remain confident of delivering on the margin guidance, underpinned by our comprehensive cost optimization program, despite increasing cost headwinds arising largely from compensation review, talent acquisition and retention”, said Nilanjan Roy, chief financial officer. “Our free cash conversion was strong at 122.3% of net profit and ROE improved to 29.3%”, he added.