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<ul><li>Earnings season will begin next week with the results of major IT companies -- TCS on April 11 and Infosys on April 13.</li><li>Digital transformation deals continue to boost IT sector’s growth along with rupee depreciation in the recent months benefiting the sector.</li><li>However, profit margins of these companies are expected to be under pressure because of increase in employee salaries and record hiring.</li></ul>The March quarter earnings season will begin next week with the results of major information technology (IT) companies such as Tata Consultancy Services (TCS) on April 11 and Infosys on April 13. Most analysts believe March is a seasonally weak quarter for IT companies and they expect moderate earnings growth amid margin pressures. The profit margins of IT companies are expected to be under pressure because of increase in employee salaries and record hiring. “Sequential growth for Indian IT will be moderate in March 2022 quarter and in line with historical seasonal trends. Margins will remain under pressure resulting from elevated wage increases, onsite as well as offshore,” said Kotak Institutional Equities. The entire IT sector is struggling to retain employees including top five companies. In fact, in the last quarter <a href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms">more employees left Tech Mahindra </a>than at TCS and Wipro. The report added that talent shortage continues even as the industry has added a record number of freshers. High cost to backfill attrition and retain talent will seep into margins across companies. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expected revenue growth in Jan-Mar* </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2% </td></tr></tbody></table>Source: Emkay Research*Revenue growth in constant currency on a sequential basis Meanwhile, the growth momentum may sustain due to healthy broad-based demand as firms across the world have increased spending on new technologies. “The demand environment is robust at present. There could be moderate risk to demand as fallout of the Russia-Ukraine imbroglio starts impacting key economies. Nonetheless, we believe double-digit growth is feasible for many,” said a report by Kotak Institutional Equities. Higher employee cost and shortage of skilled talent will remain the key challenges in the short term for IT companies. Investors will keenly monitor the management commentary on any impact on technology spending from higher energy prices, inflation and potential economic slowdown, demand trends in key verticals such as banking, financial services and insurance (BFSI), retail, manufacturing and communications, and the attrition rates. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Results date </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 11 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 13 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 29 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 21 </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/unacademy-reportedly-lays-off-1000-employees-from-sales-business-and-other-functions/articleshow/90709336.cms">Unacademy reportedly lays off 1000 employees from sales, business and other functions</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-takes-a-jibe-at-ashneer-grover-says-no-money-left-to-pay-salaries-since-grover-stole-it-all/articleshow/90706030.cms">BharatPe CEO takes a jibe at Ashneer Grover, says no money left to pay salaries since Grover stole it all</a>

Profit margins of IT companies must be under pressure for January-March quarter due to record hiring and salary hikes

<ul><li>As Wipro founder <keyword id="6419840" type="UNKNOWN" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> turned 75 on July 24, publisher HarperCollins announced that a new biography about his life is in the works. </li><li>Written by Sundeep Khanna and Varun Sood, the book will be called The Man Beyond the Billions. </li><li>There is little known about the book so far and no final release date has been disclosed yet. </li></ul>As the czar of the Indian IT Industry, Wipro chairman Azim Premji, turned 75 on July 24, publisher HarperCollins announced that it’s currently in the process of pushing out a new biography based on him. <div type="twitter" handle="companyoutsider" handlename="sundeepkhanna" image="http://pbs.twimg.com/profile_images/1225408746295160834/Bou_jSWY_normal.jpg" favoritecount="32" retweetcount="4" status="A big salute to Azim Premji on his 75th birthday. Extraordinary businessman, magnificent philanthropist and a great role model for us all." createdat="1595563168000" id="1286511290333057024"></div> “There are some people whose achievements go beyond the normal parameters of success—wealth, power, influence, size of their empires. Premji is one such,” said the CEO of HarperCollions Ananth Padmanabhan. The biography called The Man Beyond the Billions is going to be written by Sundeep Khanna and Varun Sood soon. <div type="twitter" handle="varunstweets" handlename="Varun Sood" image="http://pbs.twimg.com/profile_images/1267420202880266240/UKGcpGSu_normal.jpg" favoritecount="103" retweetcount="10" status="This just got announced. I'll write more in the coming days. Please do read, folks, once its available to read. tha… https://t.co/aN6G1J3ryr" createdat="1595595464000" id="1286646748459360259"></div> Unlike conventional billionaires in India , Azim Premji has donated nearly 75% of his wealth to charitable initiatives. Had he not done so, Azim Premji could have very well been the second richest man in the country following Mukesh Ambani. He was one of the first Indians to sign up for The Giving Pledge led by Warren Buffer and Microsoft founder Bill Gates. According to him, simply being rich ‘did not thrill’ him. For his work, he has also been honored with the Padma Vibhushan, which is one of the highest honours in India, for his contribution to the IT industry.

Azim Premji’s biography announced — here’s all you need to know about it

<ul><li>The Indian multinational conglomerate is hiring BCA and B.Sc students who graduated in 2020, 2021 and 2022.</li><li>Selected candidates will get a maximum stipend of ₹23,000 per month.</li><li>Interested candidates can apply for the opportunity by February 7, 2022.</li></ul><keyword id="10862" type="General" weightage="20" keywordseo="Wipro" source="Orion">Wipro</keyword>, an Indian multinational conglomerate, is inviting applications from Bachelor of Computer Applications (BCA) and Bachelor of Science (B.Sc) graduates of 2020, 2021 and 2022. The last date to apply for the opportunity is February 7, 2022. Interested candidates can apply online <a href="https://careers.wipro.com/wilp">here</a>. Students will also eligible for a monthly stipend — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stipend </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1st year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,000 + 488 (ESI) + Joining bonus of ₹75,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2nd year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17,000 +533 (ESI) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3rd year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹19,000 + 618 (ESI) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4th year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹23,000 </td></tr></tbody></table> Candidates will also get a merge bonus for the first 3 years post completion of the M.Tech degree. <cmsannotation type="cmsannotation" annotationid="Other benefits —" comment="subhead" text="Other benefits —">Other benefits —</cmsannotation> <ol><li>M.Tech fully sponsored by the company. </li><li>Group Life insurance of ₹14,00,000 per annum. </li><li>Group personal accident cover of ₹12,00,000 per annum. </li></ol><cmsannotation type="cmsannotation" annotationid="Eligibility criteria for the role —" comment="subhead" text="Eligibility criteria for the role —">Eligibility criteria for the role —</cmsannotation> <ol><li>BCA or B.Sc in computer science, information technology, mathematics, statistics, electronics and physics graduates are only eligible. </li><li>Candidates should have studied Core Mathematics as one subject in graduation. </li><li>Business Maths and Applied Maths will NOT be considered as Core Mathematics in graduation. </li><li>Maximum three years of gap is allowed between grade 10 and graduation. </li><li>Graduation should be completed in three years, no gaps allowed. </li><li>All educational qualifications should be pursued full-time recognised by the Government of India. </li><li>Maximum one active backlog in graduation is allowed till the interview stage. Offers will be melted out subject to all backlog clearances. </li><li>Should be an Indian citizen or should be holding a Person of Indian Origin (PIO) or Overseas Citizenship of India (OCI) card if the candidate is holding a passport of any other country. </li><li>Candidates from Bhutan and Nepal need to submit their citizenship certificate. </li><li>Candidates who participated in the selection process held by the company in the last three months are not eligible. </li></ol><cmsannotation type="cmsannotation" annotationid="Selection procedure" comment="subhead" text="Selection procedure">Selection procedure</cmsannotation> Every eligible candidate will have to go through four stages of the selection process — online assessment (80 minutes), aptitude test (questions from verbal, analytical and quantitative sections will be asked), written communication test, and business discussion round (if selected in the online assessment round). After completion of the programme, candidates will be offered a full-time position as Senior Project Engineer with a salary starting from ₹6,00,000 per annum depending upon the performance. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtel-and-hughes-form-joint-venture-will-offer-satellite-broadband-service-in-india/articleshow/88705316.cms">Airtel and Hughes form joint venture, will offer satellite broadband service in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-reports-58097-fresh-covid-19-cases-in-last-one-day-omicron-tally-reaches-2135/articleshow/88705335.cms">India reports 58,097 fresh COVID-19 cases in last one day, Omicron tally reaches 2,135</a>

Wipro is hiring BCA and B.Sc grads for its Work Integrated Learning Program with a maximum stipend of ₹23,000 per month

<ul><li><keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> is the second richest man in India who resigned as the chairman of the country's fourth-largest software company — <keyword id="10862" type="COMPANY" weightage="20" keywordseo="Wipro">Wipro</keyword>. </li><li>Premji, who is popularly known as the Czar of the Indian IT industry decided to retire by the end of July. </li></ul>At the age of 73, India’s second richest man, Azim Premji, with a net worth of $22 billion has decided to move on from Wipro. Premji will remain the firm's non-executive director for five years until July 2024. He is one of the pioneers of the multi-billion dollar Indian IT industry. He spearheaded Wipro for 53 years after his return from the Stanford University in 1966, at the age of 21. He transformed a small hydrogenated cooking fat firm into a $8.5 billion global IT powerhouse. All this while, he lead the transformation of his non-IT arm Wipro Enterprises into a global FMCG (fast moving consumer goods), infrastructure engineering and medical devices leader with a revenue of $2 billion in 2018-19. Premji dropped out of Stanford University to handle the business after his father’s death. However, he did return to Stanford 34 years later, to complete his graduation in electrical engineering. Here’s a look at Azim Premji’s salaries and net worth in the last 10 years 
	
	
	<div type="Slideshow" msid="70340117" hostid="261" title="A look at Azim Premji’s salary over the years and net worth shows the Wipro founder is India’s most generous billionaireA look at Azim Premji’s salary over the years and net worth shows the Wipro founder is India’s most generous billionaire" firstImageMsid="70340261" slideCount="10"></div>

A look at Azim Premji’s salary and donations over the years shows the Wipro founder is India’s most generous billionaire

<ul><li>The new offers will be made in the upcoming placement season. </li><li>The IT major roughly hired 10,000 people during last placement season and is planning to reach nearly 20,000. </li><li>For graduates with digital knowledge, starting pay may be twice (₹600,000) the regular packages of ₹350,000.</li></ul>With higher-than-expected reported profits in the third quarter, Indian IT multinational Wipro is <a href="https://economictimes.indiatimes.com/tech/ites/wipro-plans-to-double-campus-hiring-this-year-as-company-sees-growth/articleshow/67717414.cms?utm_source=ETTopNews&amp;utm_medium=HP&amp;utm_campaign=TN&amp;utm_content=23">reportedly planning to double campus hiring</a> efforts, along with salary hikes for graduates with digital expertise such as in big data and analytics, said a report by Economic Times. The move is to counter shortage of digital professionals in order to meet client orders efficiently as higher attrition disrupted company’s performance largely. Wipro, which is the fourth largest IT major in the country, is seeking fresh talent that can be trained with advanced digital skills. It’s also reportedly offering a starting salary of ₹600,000 per annum to students with digital skills, according to the ET report. While the average salary for other set of employees will be ₹350,000. The company is also aiming to keep a check on its attrition rate at 14%-15% for the upcoming quarters. Wipro saw <a href="https://www.businesstoday.in/current/corporate/good-news-for-engineering-students-wipro-plans-to-double-campus-hiring-this-year/story/314260.html">staff turnover</a> of over 17% in the current fiscal. It’s important that this number is brought down given the pressure to compete with peers across the US and other markets, say experts. Wipro also recently gave out a <a href="https://www.businesstoday.in/current/corporate/good-news-for-engineering-students-wipro-plans-to-double-campus-hiring-this-year/story/314260.html">one-time bonus</a> to its employees that have been hired via campus selection and have less than five years of experience. However, the overall attrition rate has increased to a 20% for the four IT majors including TCS, Infosys, Wipro and HCL Technologies, according to an analysis by staffing agency, The Head Hunters. According to the ET report, the last placement season saw a significant dip with the company hiring less than 10,000 freshers, which was half of what they usually hire during the peak season. The slowdown in hiring was apparently in part due to increasing automation at software companies. On the other hand, during the financial year 2017-18, the four homegrown ITs <a href="https://www.business-standard.com/article/companies/wipro-plans-to-hire-more-freshers-from-campuses-this-year-as-demand-rises-118072300015_1.html">increased</a> their employee headcount to 13, 972, in contrast to 59,427 the previous fiscal. Out of the top four Indian ITs, TCS has also been hiring a large number of engineers through campus placements, and has rolled out 28,000 <a href="https://economictimes.indiatimes.com/tech/ites/wipro-plans-to-double-campus-hiring-this-year-as-company-sees-growth/articleshow/67717414.cms?utm_source=ETTopNews&amp;utm_medium=HP&amp;utm_campaign=TN&amp;utm_content=23">offers</a> to fresher graduates. See also: <a href="https://www.businessinsider.in/internships-in-india-on-the-rise-with-startups-leading-the-way/articleshow/67655265.cms">India sees steep rise in internships across different industries as young graduates seek more skills: survey</a> <a href="https://www.businessinsider.in/looking-for-a-job-heres-why-data-analytics-should-be-on-the-top-of-your-list/articleshow/67649196.cms">Here’s why it might be the best time to opt for a career in data analytics</a> <a href="https://www.businessinsider.in/big-data-and-analytics-may-be-the-hottest-sector-but-india-has-a-serious-dearth-of-data-scientists/articleshow/66860305.cms">Big data and analytics may be the hottest sector, but India has a serious dearth of data scientists</a>

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Profit margins of IT companies must be under pressure for January-March quarter due to record hiring and salary hikes

Bhakti Makwana

Azim Premji’s biography announced — here’s all you need to know about it

Prabhjote Gill

Wipro is hiring BCA and B.Sc grads for its Work Integrated Learning Program with a maximum stipend of ₹23,000 per month

Vaamanaa Sethi

A look at Azim Premji’s salary and donations over the years shows the Wipro founder is India’s most generous billionaire

Preeti Soni

Indian IT major Wipro is on a hiring spree, plans to double campus offers and hike pay

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