Sapre said that in the last three quarters 4200 people have been hired which includes 3500 lateral hires. He said that the fresher to lateral higher ratio will no longer be the same. The company had 14904 employees as of June 2021
IT company Persistent Systems will hire 2,000 freshers in 2021-22. A senior official gave this information on Friday. The company has focused more on returning to the information technology industry, as business is showing improvement due to increased focus on digitization. The Pune-based company on Thursday said it had registered a growth of 68 per cent at Rs 151.2 crore in the June quarter.
Sunil Sapre, the company’s chief financial officer, said, “We will be hiring 2,000 freshers in FY22 and will do lateral hiring based on business growth.” Its chief executive Sandeep Kalra said that normally a fresher is trained for six months before working on a project.
Sapre said 4,200 people have been hired in the last three quarters, including 3,500 lateral hires. He said that the fresher to lateral higher ratio will no longer be the same. The company had 14,904 employees as of June 2021, an increase of 37 per cent from the same base in the year-ago period.
Sapre said that all employees will be given their annual increment from July, which will put pressure on profit margins by up to 2.70 per cent. However, various measures will be taken to reduce the impact by 0.75-1 per cent. Sapre said the company is targeting to improve utilization by taking various steps in the next two quarters.
Sapre said during the June quarter, profit margins declined due to visa filing-related costs and one-time loss. He said the H1-B visa has been applied for to send senior resources to the US, which accounts for 80 percent of its revenue. Today, the company’s stock was trading at Rs 3,023.35, up 6.86 per cent on the BSE, against a gain of 0.36 per cent on the benchmark.