Infosys June quarter profit up 23%; to hire 35,000 college graduates

Infosys June quarter profit up 23%; to hire 35,000 college graduates

FPJ Web DeskUpdated: Wednesday, July 14, 2021, 06:52 PM IST
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Infosys has raised its revenue guidance for FY22 to 14-16 percent from the previous outlook of 12-14 percent. | Reuters

IT services major Infosys is expanding its hiring programme. Chief Operating Officer Pravin Rao said as the demand for digital talent explodes, rising attrition in the industry poses a near-term challenge.

“We plan to meet this demand by expanding our hiring programme of college graduates for FY22 to about 35,000 globally,” he added. Infosys'' digital revenues stood at 53.9 percent of total revenues, a year-on-year constant currency growth of 42.1 percent, Infosys said in a regulatory filing.

On Wednesday, the Bengaluru-based company posted a 22.7 percent rise in net profit to Rs 5,195 crore for the April-June quarter of 2021-22. It also raised its revenue growth outlook for the full fiscal.

The company's net profit (after minority interest) was at Rs 4,233 crore in April-June 2020. Its revenue from operations grew 17.8 percent to Rs 27,896 crore in the first quarter of FY22 from Rs 23,665 crore in the year-ago period,

Infosys has raised its revenue guidance for FY22 to 14-16 percent from the previous outlook of 12-14 percent.

Large deal flows remained strong with total contract value (TCV) of $2.6 billion in the first quarter. "Driven by the dedication of our employees and the trust of our clients, we grew at the fastest pace in Q1 in a decade, at 16.9 per cent year-on-year and 4.8 per cent quarter-on-quarter in constant currency...This gives us confidence to increase our revenue growth guidance to 14-16 percent," said Salil Parekh, CEO and Managing Director .

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