IT major HCL Technologies (HCL Tech) reported a marginal increase in attrition rate to 13.2 per cent for the quarter ended December 2024. The attrition figure stood at 12.8 per cent in the same quarter last year and at 12.9 per cent in the preceding quarter of the current financial year 2024-25 (FY25).
The attrition rate measures the rate at which employees leave a company over a period of time. A lower rate is generally considered healthy for a company.
During the recently concluded quarter, HCL Tech witnessed a net addition of 2,134 employees. Meanwhile, in the same quarter last year, it added 3,617 employees. The company also added 2,014 freshers as against 3,818 freshers in the December 2023 quarter.
The total headcount at the end of December 2024 stood at 220,755 as against 224,756 in the same period last year.
HCL Tech Q3 Results
The IT major reported a 5.1 per cent year-on-year revenue growth to ₹29,890 crore in the December 2024 quarter. Meanwhile, its revenue in constant currency terms also increased. In dollar terms, India’s third-largest IT company, posted a 3.5 per cent increase to $3,533 million.
The company’s EBIT stood at ₹5,821 crore, witnessing an increase of 3.7 per cent year-on-year and 8.6 per cent quarter-on-quarter.
Meanwhile, HCL Tech’s profit after tax grew by 5.5 per cent YoY to ₹4,591 crore, compared to ₹4,350 crore in the corresponding period last year.
“HCLTech delivers another quarter of solid growth at 3.8% QoQ in constant currency and EBIT at 19.5%. I am pleased that this growth is powered by broad based performance across business lines as our clients across verticals and geos reaffirm their confidence in our Digital and AI offerings. Our new deal bookings were healthy during the quarter at $2.1B with wins across services and software,” said C Vijayakumar, CEO & Managing Director, HCL Tech.
HCL Tech Dividend
The board of the IT company has announced a fourth interim dividend of Rs. 18 per equity share of Rs. 2 each for FY25. This amount includes a special dividend of Rs. 6 per share, marking the 25th anniversary of the company’s public listing.
“The record date for the payment of the aforesaid interim dividend shall be January 17, 2025 and the payment date of the said interim dividend shall be January 24, 2025, ” said HCL Tech in a regulatory filing to the stock exchanges today.
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