Persistent to visit fewer campuses to hire freshers; aims to expand margins
Persistent Systems aims to visit fewer campuses for hiring freshers, a senior official said on Monday. Over the next three years, the company is also targeting to expand its operating profit margin by about 3 percentage points above the levels of about 14.5-15 per cent it aims to exit FY23, its chief financial officer Sunil Sapre told PTI.
Speaking two days after the Pune-based company announced its December quarter earnings, Sapre said it is already carrying candidates who have been trained for 18 months in some cases and are yet to be deployed on projects, which is making it circumspect about fresher hiring in the new year.
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Offering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisit«We will be there at campuses, but we will do it (hire) more judiciously,» Sapre said.
When asked if he meant that the company will visit fewer campuses when he says judiciously, Sapre replied in the affirmative.
He said that for the company, which added about 500 people to take its overall strength to 23,336, all the hiring is done keeping in mind the aim to keep the utilisation at over 83 per cent, which can help it deliver the required margins.
For the December quarter, its overall utilisation went up to 81.5 per cent, and plans are afoot to take it up, he said.
The attrition has come down to 11.5 per cent because of fewer opportunities being available in the IT sector, which has also helped, he noted.
The operating profit margin widened to 14.5 per cent in the December quarter, Sapre said, adding
