Infosys adds 5,591 employees in Q3, headcount up for second consecutive quarter

Infosys clocked in a large deal Total Contract Value (TCV) of $2.5 billion for Q3

IT services giant Infosys' headcount increased by 5,591 in the third quarter ended December 31. This is the second consecutive quarter of net employee addition, reversing the previous trend of six quarters of headcount decline.

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 Q3 stood at 3,23,379, up from 3,22,663 in the year-ago period. The employee count is up 716 from the same quarter in the previous year.

The attrition rate for the quarter on the last twelve-month basis increased 13.7 percent from 12.9 percent in the September quarter.

Salil Parekh, CEO and MD, Infosys said, “We have had a strong hiring in Q3, with expansion of over 5,000 employees. We see (hiring) based on some our discretionary (spending), this will continue. But this will have seasonality as we see in our revenue.”

Meanwhile, rival Tata Consultancy Services (TCS) lost 5,370 employees in Q3 after two consecutive quarters of net addition; and HCLTech reversed its trend of previous quarter by adding 2,134 employees.

Infosys reported its Q3 earnings. The company's net profit rose 11.4 percent year-on-year, beating Street estimates, to Rs 6,806 crore. According to a Moneycontrol poll of nine brokerages, the IT major's Q3FY25 profit was pegged at Rs 6,734 crore and revenue at Rs 41,206 crore.

Revenue from operations rose 7.5 percent to Rs 41,764 crore in Q3FY25 as compared to Rs 38,821 crore in Q3FY24.

Infosys also raised its CC revenue growth guidance for FY25 to 4.5-5% for the third quarter in a row, as against its previous guidance of 3.75-4.5%.