India’s second-largest IT major, Infosys has announced the Q2 result yesterday. The company has also announced a share buyback worth Rs. 9,3000 crores along with an interim dividend of Rs. 16.5 per share.
However, Infosys shares closed about 0.7% lower ahead of its Q2 announcement. As of September 30, 2022, The company added 10,032 employees.
Nilanjan Roy, Chief Financial Officer, Infosys said, “No delay in onboarding freshers. We have opened our Mysore campus. We are on track on onboarding freshers.”
“We have already hired 40,000 freshers out of our plan of hiring 50,000 freshers for the year and the number could go up,” Nilanjan Roy added.
Chief Financial Officer Nilanjan Roy said, “In FY22, Infosys had hired 85,000 freshers, with its hiring up 2.2x in two years. For FY23, Infosys had said it would be hiring over 50,000 freshers.”
“In the first half of this FY, the company has hired 40,000 freshers and the full-year target of 50,000 may go up”, Nilanjan Roy added.
The company’s headcount stood at 3,45,218 as of September 30, 2022, from 3,35,186 in Q1FY23. The net addition of 21,171 people in the first quarter ended on June 30.
Infosys’ attrition in Q2FY23 stood at 27.1 percent. The company’s attrition for the last quarter was 28.4 percent. There is a sequentially fall in attrition on a trailing twelve-month basis.
HCLTech added 8,359 employees during the quarter. As of September 30, 2022, the company’s total headcount is 219,325 from 208,877 as of March 2022 quarter. The company’s attrition remained stable at 23.8%.
Wipro added 605 new employees. As of September 30, 2022, Wipro’s headcount in IT services increased to 259,179 from 258,574 at the end of June. The company has reported an Attrition Rate of 23%, moderating slightly from 23.3% in the previous quarter.
TCS added 9,840 employees in the September quarter and the total headcount stood at 6,16,171. TCS hired 20,000 freshers in Q2, an increase of 33% over the previous quarter. However, freshers hiring have slowed down. TCS hired 35,000 freshers in Q1FY23 which is down from 43,000 in Q1FY22.
