Confident of extraordinary growth in FY22, Tech Mahindra, the Indian IT company, is planning to accelerate the hiring of freshers. It has already taken on 5,200 people in the June quarter and now hopes to hire more from tier 2 cities, including Nagpur, Thiruvananthapuram, Bhubaneswar, and Vishakhapatnam. The Company has a workforce strength of more than 1.26 lakh.
With the focus being on talent building, the Company is looking to hire talent in the areas of artificial intelligence, space technology, and the internet of things.
The IT major posted a 39.2 percent increase in consolidated net profit at Rs 1,353 crore for the June quarter of 2021-22. It had registered a net profit of over Rs 900 crore in the same time last year. It has earned more than was expected in a quarter that is seasonally far from strong.
Interestingly, CP Gurnanai, CEO and MD, Tech Mahindra, earned Rs 22 crore in salary in the last financial year, which was less than the Rs 33.2 crore he earned in the previous fiscal. He receives Rs 2.7 crore in salary, about Rs 9 crore in the form of perks, and Rs 1.7 crore in the form of commissions. He was also eligible for trade payables worth Rs 1.8 crore. The reduction in salary could be due to the fact that the top managers had volunteered to not take their bonus/ variable pay to help handle the financial setback resulting from the pandemic.