Infosys increased its hiring target to 24,0000 freshers from 15,000 earlier for the financial year 2021-22, said COO UB Pravin Rao during FY21 Q3 earnings results announcement on Wednesday
KEY HIGHLIGHTS
- Infosys is gaining market share steadily, Expect double digit growth for FY22: CEO Salil Parekh
- Infosys COO UB Pravin Rao said company will hire 24000 freshers in FY22
- Infosys outperforms TCS and Wipro in Q3 results on revenue growth and is gaining market share
Bengaluru: India’s second-largest IT services provider on Wednesday said it increased its campus recruitment target to 24,000 from 15000 earlier for the financial year 2021-22 (FY22). The company also beat both TCS and Wipro in the October-December (Q3 FY21) quarter earnings on the revenue growth front.
“In this quarter, we have seen tremendous growth. Given the growth momentum we are seeing and high utilization…attrition can possibly pick up. Considering all that we have increased the fresher hiring to 24,000,” said UB Pravin Rao, COO, Infosys.
The management sees the company clocking double-digit growth next year owing to on the back of large deals and demand for digital.
“We see next year as a double-digit growth year from everything that we are seeing the market. We have a tremendous amount of positive news in terms of large deal wins and the momentum that we have built,” said Salil Parekh, CEO, Infosys, during the Q3 results announcement.
The company’s also declared its earnings results for Q3 of the current financial year on Wednesday. It reported net profit growth of 16.6% year-on-year (YoY) to Rs Rs 5,197 crore during the third quarter of FY21 compared to Rs 4,845 crore in the same period last year.
The management is also looking at double-digit growth on the back of large deals and high demand digital in FY22.
Q3 FY21 results
Infosys has outperformed both TCS and Wipro in October-December (Q3 FY21) quarter on the revenue growth front. Q3 results are a beat on most counts. Sequential revenue growth in constant currency terms (CC) for Infosys grew at 5.3% versus TCS at 4.1% and Wipro at 3.4%.
FY 21 revenue growth guidance was revised upwards by the management to 4.5%-5.0% in constant currency (CC) terms vs its previous guidance of 2% to 3%. Operating margin guidance for the current year was increased to 24%- 24.5% vs previous guidance of 23%-24%.
The revenue growth of 5.3% quarter-on-quarter (QoQ) in CC terms was highest in the last 8 quarters. The large deal Total Contract Value (TCV) stood at an all-time high of $7.13 billion for the quarter under review.
