Infosys posts bumper quarter, to recruit 50,000 freshers this year

Infosys, the second-largest software services company in the country, posted 12 percent year-on-year increase in its consolidated net profit and revealed its plan to hire 50,000 more freshers as it revised its earlier hiring projects based on strong demand.

The 12 percent hike in net profits at Rs 5,686 crore for March quarter FY22 came on the back of growing revenue for Infosys at 22.7 percent to Rs 32,276 crore in the quarter.

Infosys expanded its fresher recruitment program from 50,000 to 85,000 hirings in the year, and will be hiring more than 50,000 freshers this time, Live Mint reported.

The revenue growth forecast for the IT services giant for FY23 is 13-15 percent. Infosys registered a 14.3 percent increase in net profit at Rs 22,110 crore in the bygone year with 21 percent higher revenue at Rs 1,21,641 crore.

"We continue to gain market share as a result of sustained clients' confidence in our ability to successfully navigate their digital journeys," Salil Parekh, CEO and MD of Infosys, said in a statement.

Infosys board has recommended a final dividend of Rs 16 per share for FY22.

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Nilanjan Roy, Chief Financial Officer of Infosys said, "With a robust demand environment ahead, we envisage making appropriate long-term investments in capability building across sales, delivery and innovation. However, we plan to neutralize some of the impact through aggressive cost optimization programs and value-led pricing driven by service and brand differentiation. This, along with post-pandemic normalization of expenses, is reflected in the margin guidance."

(With inputs from PTI.)