Having recently acquired Sureline Systems, the Pune-based IT company, Persistent Systems, is now on the lookout for talented freshers to be a part of its growth journey. It is looking to hire 2,000 freshers this financial year and will take on laterals as and when the business requires, as per its growth. The employees will also receive their annual hikes starting July.
The Company reported a 68 per cent increase in consolidated net profit to Rs 151.2 crore in the April-June quarter. The firm had posted a net profit of Rs 90 crore in the year-ago period. The acquisition of Sureline Systems also took place in this quarter, enhancing its cloud capabilities.
The Company follows a process of training freshers for six months before assignment them projects. It took on 4,200 people in the last three quarters, including 3,500 lateral hires. It is now focussing on improving utilisation, which is currently 78 per cent on a blended basis, by resorting to various initiatives over the next two quarters.
The Company had over 14,900 employees as on June 2021, which is 37 per cent more than it had in the same period last year. With increments to be given out this month, there will be pressure on profit margins too.
It has tried to give a positive push to the careers of its senior staff, by applying for H1-B visas for them to work in the US, from where the lion’s share of its revenues comes.