The total employee base stood at 227,481 at the end of March 2024. In the preceding quarter, its employee count was at 224,756 ending December.
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For the full year as well, the Noida-headquartered firm added 1,537 employees from overall headcount of 225,944 in March end 2023. Similarly in FY23, HCLTech’s headcount had shown an increase by 3,674 employees.
In contrast, top tier IT majors data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/tata-consultancy-services-ltd/stocks/companyid-8345.cms” rel=”noopener”>TCS, data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/infosys-ltd/stocks/companyid-10960.cms” rel=”noopener”>Infosys and data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/wipro-ltd/stocks/companyid-12799.cms” rel=”noopener”>Wipro which have announced a cumulative headcount dip of 63,759 employees in FY24.
In Q3, HCLTech was the HCL Tech is the only outlier among top tier IT firms to report an increase in employee base.
Its fresher additions between October and December stood at 3,818.
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data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/definition/Attrition” rel=”noopener”>Attrition for the quarter further reduced to 12.4% as on March quarter 2024 down from 19.5% in Q4FY23 and also down from 12.8% in Q3FY24. This is HCLTech’s lowest attrition since the COVID-19 quarter in 2021.Last year, HCLTech had also missed its full-year target of hiring 30,000 freshers, as it hired only 26,734 freshers.
For Q4FY24 ending March, HCLTech’s net profit grew marginally at Rs 3,995 crore, up by 0.35% from Rs 3,981 crore reported in the year-ago period. It was lower than Street’s estimates of Rs 4,080 crore. Company’s board also announced interim dividend of Rs 18 per share.
On Friday, HCLTech shares ended at Rs 1472.30, weaker by 2.08% from the previous close apiece on the BSE. Results were announced after market hours.
