PUNE: Technology services and solutions company
Persistent Systems plans to hire 6,000 employees this financial year. This
would include a mix of 2,000 freshers and about 4,000 lateral employees.
“We are looking at a 1:2 (two lateral staff to every
fresher) ratio. We might hire about 1,000 laterals a quarter this year,” said
Sunil
Sapre, Executive Director and Chief Financial Officer of the Pune-based firm.
The company has 14,904 employees as of June 30 against
10,829 in the same quarter last year. The US, which contributes about 80 per
cent to the company’s revenue, is resuming operations in most places after the
pandemic. “Some States (in the US) are still witnessing restrictions. We are
going and meeting (clients) in the States where work has resumed. We see a
30-40 per cent resumption in normal meetings,” he said.
In the first quarter ended June 30, the company
posted net profit of ₹151.24 crore against ₹90 crore in the same quarter the
previous year, a growth of 68 per cent. Its revenue grew 24.1 per cent to
₹1,229.9 crore (₹991.39 crore). The company’s annual general meeting, held on
July 21, okayed a final dividend payment of ₹6 a share.
“We reported growth in the first quarter of 2020-21
despite the pandemic. The number of clients that contribute more than $5
million increased to 21 from 17 and those that contribute $1-5 million
increased to 76 from 66,” he said. The company hiked salaries for its employees
in India by 8-10 per cent and for those in the US by 3-4 per cent. It has
13,710 employees working in India and 1,256 in the US.
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