The IT firm had acknowledged that rising attrition in the industry posed a near-term challenge
Chennai: Infosys has raised this fiscal’s target of hiring fresh graduates by 10,000 to 45,000. The company has also raised its forecast of revenue growth after witnessing a robust growth in Septem-ber quarter revenues and profit.
Strong results in the quarter ended Septem-ber 20, 2021 and higher attrition saw Infosys expanding its hiring programme for freshers. The company plans to hire 45,000 college graduates this fiscal as compared to the earlier target of 35,000 set at the end of the June quarter.
“In order to harness the full potential of the market opportunity, we are expanding our college graduates hiring programme to 45,000 for the year, said Pravin Rao, chief operating officer.
The IT firm had acknow-ledged that rising attrition in the industry posed a near-term challenge. In the September quarter, employee attrition stood at 20.1 per cent on an annualised basis compared to 12.8 per cent a year earlier.
The IT major raised its annual revenue outlook with increase in contracts from global businesses due to the pandemic. The company now expects 16.5-17.5 per cent growth in revenue in FY22, up fropm its July prediction of 14-16 per cent.
Infosys consolidated net profit rose 4.3 per cent sequnetially to Rs 5,421 crore for the quarter.