TCS to hire 35,000 from campuses for FY16

Tata Consultancy Services (TCS), India's top IT services exporter, proposes to hire 35,000 from campuses for FY16 from 350-400 institutes across the country, even as the company reported a sequential fall in quarterly profits.

TCS, the only IT company that has so far announced FY16 hiring plans, has increased the FY16 hiring target by 10,000 compared to the campus hiring in FY15. For FY15 TCS gave campus offers to 25,000 students.

For FY15 TCS has already increased its hiring target and is expected to add 55,000 employees in the current financial year. But the numbers are yet to be finalised, " Ajoy Mukherjee, executive vice president and global head (HR) of TCS said.

TCS, however, did not give any guidance on growth - generally the hiring target of the company represents the growth demand it sees in future.

For the quarter ended 30 September 2014, TCS reported employee utilisation at an all time high of 86.2 per cent (excluding trainees) while including trainees it was 81.3 per cent.

TCS also managed to maintain a low attrition rate (though it has gone up slightly compared to last quarter). Attrition for the quarter was at 12.8 per cent.

TCS reported a growth of 13.6 per cent for the July-September quarter profit at Rs5,288 crore and revenue growth of 13.5 per cent on a year-on-year basis at Rs23,816 crore. The company's Q2 dollar revenue missed market estimates, the management has remained bullish about demand environment.