Infosys Ltd on Friday said it will recruit 18,000 people from campuses this fiscal year 2019-20. The country's second largest IT company has been battling high attrition rate pertaining in the sector but has asserted that this has not impacted its deliverables. It has over 2.29 lakh employees and hired 8,000 people in the April-June period, it said on Friday following the release of its first quarter performance results.
"Overall for this quarter, we have recruited close to 8,000 people, of which freshers are about 2,500... For the year, we are looking at about 18,000 people or so from the universities," Infosys Chief Operating Officer U.B. Pravin Rao said.
The company said that it added 906 people (net) during the June 2019 quarter. The attrition (annualised consolidated) was higher at 23.4 percent, compared to 20.4 percent for the quarter ended March 2019.
The company said there was no impact of attrition on its deliverables and that historically, the first quarter of the fiscal has a higher level of attrition.
Infosys has initiated a number of measures for employee engagement, investment in career opportunities and enrichment of experience for employees, he said.
On Friday, the company reported a net profit of Rs 3,802 crore for the June-ended quarter, which was 5.3 percent higher on a year-on-year basis but 6.8 percent lower from the previous quarter.
As a cheer for its shareholders, Infosys increased its free cash flow return expectation to 85 percent from the earlier annual 70 percent.