Infosys adds 2,456 employees in Q2, reverses trend of past six quarters

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IT services giant Infosys' headcount increased by 2,456 in the September quarter after six consecutive quarters of decline in the employee count, the Bengaluru based company said on October 17 .

This comes at a time when the company has started opening up hiring across levels, including freshers. In FY25, Infosys plans to hire around 15,000-20,000 freshers following a year of hiring slump.

The total headcount in Q2 stood at 317,788, down from 328,764 in the year-ago period. The employee count is down 10,976 from the previous year.

The attrition rate for the quarter on the last twelve-month basis increased 12.9 percent from 12.7 percent in the June quarter.

Rival Tata Consultancy Services (TCS) added 5,726 employees and HCLTech lost 780 employees.

"Headcount at the end of the quarter stood at 3,17,000, returning to a positive sequential growth after six quarters of decline, with net additions of 2,500 employees. Utilisation rate including
training increased by 60 basis points to 85.9%. LTM attrition for Q2 was up by 20
basis points at 12.9%. We are on track to onboard 15,000 to 20,000 freshers in FY25," the management said during analyst concall.

Infosys reported a 2.2 percent quarter-on-quarter increase in net profit at Rs 6,506 crore, missing Street expectations. The Indian IT bellwether's revenue grew 4.2 percent to Rs 40,986 crore.

The company raised its full-year revenue growth guidance to 3.75-4.5 percent, topping up on the surprise hike to 3-4 percent announced in July.