Huge Fresher’s Hiring in Financial Year 2023: Larsen & Toubro Infotech Plans.Larsen & Toubro Infotech, a technology services and consulting company, has announced plans to hire 6,000 freshers in the fiscal year FY23. As the company grows over the year, the recruiting plan might be adjusted. The news came during a presentation of the company’s financial results for the quarter and year ended March 31, 2022.
LTI’s CEO, Sanjay Jalona, remarked, “We expect to hire 6,000 freshers as a floor plan this year, which may increase as the business grows this year.”
Last year, the organisation saw an increase in hiring. LTI had planned to hire 5,500 freshers as a floor plan last year, but ended up hiring up to 6,200 freshers during the year, according to Jalona.
LTI’s employment increased to 46,648 employees in March 2022, up from 44,200 employees the previous quarter and 35,991 people in Q4 of FY21.
**To Join Latest Job Updates Whatsapp Group**
In Q4FY22, the development department had 44,566 employees, while the sales and support department had 2,082 people.The company’s attrition rate (LTM) climbed dramatically from 22.5 percent in Q3FY22 to 24 percent in Q4FY22, compared to 12.3 percent in Q4FY21.
LTI reported a net profit of Rs. 637.5 crore in Q4FY22, up 16.8% year over year and 4.1 percent quarter over quarter. Revenue increased by 31.6 percent year on year and 4 percent quarter on quarter to Rs. 4,301.6 crore.
In financial terms, the company’s revenue in Q4FY22 was $ 570.4 million, up 27.5 percent year over year and 3.1 percent quarter over quarter.The constant currency revenue growth is at 29% yoy and 3.6% qoq.
According to Jalona, “We are ecstatic to have surpassed the $2 billion revenue mark in FY22, with record growth of 26%, our best since listing. Our expansion has been diverse, spanning sectors, service lines, customer buckets, and locations. New client openings and net headcount additions have been at an all-time high this year.”
“We secured four significant orders in Q4 FY22, totaling over USD 80 million in net new TCV. Our deal pipeline is strong, and we remain optimistic about continuing to grow at an industry-leading rate in the future year “Jalona continued.
For FY22, the company’s board of directors has recommended a final dividend of Rs. 30 per equity share. The company’s dividend payout ratio for the fiscal year was 41.9 percent.On BSE, LTI shares ended at Rs. 5486.15 apiece down by Rs. 380.50 or 6.5%.
| To Follow Our Instagram | Click Here |
| To Follow Our Twitter | Click Here |
| To Join Whatsapp | Click Here |
| To Join Telegram Channel | Click Here |
| To Join Our Facebook | Click Here |