Infosys Ltd expects to hire 15,000-20,000 freshers depending on the growth during the year

In the year-ago period, the company clocked a profit of ₹5,945 crore, according to a BSE filing.

The net profit in April-June fell 20 % from ₹7,969 crore in the preceding March quarter.

For the current fiscal year, the company raised revenue growth guidance to 3-4% in constant currency terms from 1-3% projected earlier.

It expects to hire 15,000-20,000 freshers depending on the growth during the year.

"We had an excellent start to FY25 with strong and broad-based growth, operating margin expansion, robust large deals, and the highest ever cash generation. This is a testimony to our differentiated service offerings, enormous client trust, and relentless execution," said CEO and MD Salil Parekh.

The company's operating margin during the quarter stood at 21.1%.

Infosys expects its operating margin to be 20-22% in the current fiscal year.

"With our focused approach for generative AI for enterprises working with their data sets on a cloud foundation, we have strong traction with our clients. This is building on our Topaz and Cobalt capabilities," Parekh added.

The company won large deals worth $4.1 billion during the quarter.

"We had very strong performance on large deals in the first quarter which gives us more visibility into the full year," Parekh said.

Share of the financial services segment, which is the biggest contributor to Infosys' revenue, recorded a 0.3% decline on a constant currency basis to 27.5%.

While the retail segment's share fell 3% to 13.8%, the communication segment's share rose 5.4% to 12.1% and energy, utilities, resources, services grew 6.3% to 13.3% on a constant current basis.

Parekh said the company is witnessing improvement in financial service revenue in the US.

While the revenue share of Infosys from North America fell by 1.2 %, in Europe it increased by 9.1 %, India 19.9 % and the rest of the world 2.3 % on a constant currency basis.

The company's headcount fell by about 6 % to 3,15,332 in the June 2024 quarter from 3,36,294 a year ago. The headcount fell marginally from 3,17,240 in the previous quarter.

The company has increased the utilisation level of employees to 83.9 % from 78.9 % on a year-on-year basis.

"Our utilisation is already at 85 %. So we have little headroom now left. So you know, as we start seeing growth...we are looking at hiring 15,000 to 20,000 freshers this year depending on...how we see the growth," Infosys Chief Financial Officer Jayesh Sanghrajka said.