In the fiscal year ended March 31, 2022, software giant Infosys hired 85,000 freshers, as attrition continues to rise in the face of strong demand. The Bengaluru-based IT player announced on April 13 that it hired 54,396 individuals for the year and expects to hire more than 50,000 freshers in FY23.
For the March quarter, India’s second-largest IT services company recorded a consolidated net profit of Rs 5,686 crore, up 12% year on year. Profit decreased by 2% on a year-over-year basis.
To satisfy the increasing demand for its services, the business said it increased its fresher recruiting program to 85,000 for the year, up from the 55,000 it had previously disclosed. This comes at a time when attrition is at an all-time high, owing to India’s extraordinary war for IT talent. At the time, there was a 27.7% attrition rate.
Infosys reported $4280 million in revenue
In the March quarter, the company reported $4280 million in revenue, up 18.5 percent from $3,613 million the year before. The company generated $16,311 million in revenue for the year, up 20.3 percent. For the third time this year, Infosys boosted its revenue growth target to 19.5-20 percent in FY22, up from 12-14 percent at the start of the year.
“With a broad-based performance driven by fundamentally differentiated digital and Infosys Cobalt led cloud capabilities, propelled by the ‘One Infosys’ approach, Infosys delivered its greatest yearly growth in a decade.” Salil Parekh, CEO, and MD said, “We continue to grow market share as a consequence of our client’s continued trust in our ability to successfully navigate their digital journeys.”
“As digital disruptions accelerate across industries, we see enormous opportunities to connect and partner with clients as they transform, adapt, and succeed.” To capitalize on the rising market prospects, we will scale talent globally, invest in personnel, and accelerate innovation and digital capabilities.”