L&T Infotech (LTI), part of Larsen Toubro group, a global technology consulting and digital solutions firm has announced its Q3FY22 results recently.
The company has reported that attrition has risen to 22.5% from 19.6% in the previous quarter.
The company has added over 1800 people in December ending quarter with total headcounts of 44,200 employees. The IT firm said that it will continue hiring as the business grows.
“We are happy to report 9.2% QoQ revenue growth in constant currency. This is our best ever quarterly sequential growth since listing. Our ongoing revenue momentum sets us up to deliver our highest year-over-year growth as a publicly listed company. We continue to have incredible conversations with our customers on their digital transformation journeys.” – Sanjay Jalona, Chief Executive Officer & Managing Director
Net income grew 18 per cent YoY and 11 per cent over the previous quarter, he added.
The CEO also said that attrition, which has shot up to 22.5% as demand for talent soared, will also come down.
Sanjay Jalona further said, “We have not decided the exact numbers of freshers hiring in Q4 but we have robust hiring plans as rising demand of digitalization.”
“We have already hired 5,500 freshers this year which is a huge number for us,” he added.
LTI is building a larger talent pool through fresher hiring, non-tech hiring, upskilling of in-house talent and more on the back of broad-based demand from the new normal across industries and newer areas like ESG and cybersecurity, its CEO and managing director Sanjay Jalona said.
In December ending quarter, LTI is selected by a Global Fortune 500 company and a worldwide leader in beauty and cosmetics for implementing its HR Transformation plan. Based on Snowflake technology, the engagement aims to augment next-gen HR Analytics capabilities, one-stop-shop for data, real-time access, and mobile-friendly solutions.
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