Tata Consultancy Services (TCS), India's largest software services exporter, expects to hire up to 20,000 people in the current quarter of FY12.

"The company during the second quarter is expected to hire 17,000 to 20,000 people," CEO MD N Chandresekaran said.
The announcement comes two days after country's second-largest software exporter Infosys declared its Q1 results and said it would hire around 12,000 people this quarter. The company currently has over 1.33 lakh employees.

"We are looking at a gross addition of about 12,000 in our workforce and we are continuing with yearly target at 45,000 people," Infosys CEO and Managing Director S Gopalakrishnan had said.

Hiring has gathered pace in June especially in the IT sector. According to a survey by leading job portal Naukri.com published on July 5, both IT and ITES sectors contributed the most in terms of hiring in June. The job indices for these sectors climbed 12 per cent last month in comparison to May.

Meanwhile, TCS, which added a net 3,576 employees during the first quarter, plans to add 60,000 workers till March 31 in the ongoing financial year (2011-12).

On the back of strong growth in volumes across segments, IT major TCS on Thursday reported 26.7 per cent rise in the April-June quarter profit at Rs. 2,415 crore which market analysts said beat their estimates.

The total revenue of the country's biggest software exporter grew by 31.4 per cent to Rs. 10,797 crore for the period under review.

However, sequentially the profit has declined as the company had posted Rs. 2,623 crore profit in the last quarter of the previous fiscal.

Chandrasekaran said, "The performance across the board is extremely satisfactory. There has also been a significant growth in volumes by 7.5 per cent."

He said the growth across industries was led by growth in hi-tech, retail, hospitality, telecom and BFSI.

There was a muted growth in Asia Pacific and Latin America, he said, adding the uncertain global macroeconomic environment demands that we need to be flexible and agile to capture growth opportunities as they emerge.

The company signed 10 deals in the quarter with 4 each in UK and Europe and two other in emerging markets.

"TCS continues to partner with many customers to help them successfully execute their transformation agendas. Our discretionary spends have also increased due to our offshore focus. We have some more deals in the pipeline," he said.



SOURCE