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 accelerates, job creation in the industry has become a near-term challenge. Praveen Rao, Chief Operating Officer, Infosys said, “We plan to meet this demand by expanding our recruitment program of college graduates globally from FY22 to 35,000.
“The well being of the employees is of paramount importance to us and in this regard we have taken several interventions including facilitating vaccination for them and their dependents. We launched several in-depth employee engagement initiatives including career acceleration opportunities, compensation reviews and learning and development interventions,” said Rao.
The IT giant posted a net consolidated profit of Rs 5,195 crore for the quarter ended June 2021. The company said in a stock-exchange filing that consolidated revenue rose to Rs 27,896 crore during the quarter. The company made major deals worth $2.6 billion during the quarter ended June. Operating margin for the quarter was strong at 23.7%, with free cash flow increasing 18.5% year over year.
“Driven by the dedication of our employees and the confidence of our customers, we grew 16.9% year-over-year and 4.8% quarter-over-quarter in constant currency at the fastest pace in the first quarter in a decade. I am proud of our employees , who as ‘One Infosys’ demonstrate resilience and commitment to our customers.
Salil Parekh, Chief Executive Officer and Managing Director, Infosys said, “Assures us to increase our revenue growth guidance to 14%-16%.
“Our customers continue to support the many initiatives we have launched; they value the delivery commitments we have fulfilled even during these extraordinary times,” said the COO.
“We are confident of delivering margin guidance based on our comprehensive cost optimization program, despite cost escalation arising largely from the compensation review, talent acquisition and retention,” said Chief Financial Officer Nilanjan Roy. “Our free cash conversion was strong at 122.3% of net profit and ROE increased to 29.3%”, he said.
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