Fresher hiring at HCL Tech to touch 20,000-22,000 this fiscal

HCL Technologies today said it has aggressively ramped up hiring and expects to hire 20,000-22,000 freshers this fiscal as the demand for technology services continues to outstrip supply

The company’s attrition (voluntary TTM) on a trailing 12 month basis during the third quarter ended December rose 19.8% from 15.7% in the previous quarter.

The Noida-based firm’s has also continued hiring at a brisk pace with net addition of 10,143 during the quarter, taking the total headcount now to 197,777.

HCL Technologies has reported 13% fall in consolidated net profit at ₹3,442 crore for the December quarter when compared with the same period last year. It was ₹3,969 crore in the same quarter (Q3FY21) of last year.

On a sequential basis, the profit after tax (PAT) rose 5% from ₹3,259 crore in the previous September quarter.

The company’s revenue from operations, meanwhile, rose 15% to ₹22,331 crore as against ₹19,302 crore in the year-ago period.

On Friday, HCL Tech scrip closed 0.32% lower at ₹1,330 on NSE. In the last one year, the shares have gained by 29.97% as against 24.95% rise in Nifty IT index.

On the outlook, HCL Tech expects revenue to grow in double digits in constant currency for FY22, while EBIT margin is seen between 19% and 21% for the same period.

HCL Tech has seen strong booking performance during the period under review with TCV (Total Contract Value) of new deal wins at $2,135 million, registering 64% growth over last year period.

Segment wise, services business has grown at 5% quarter-on-quarter (CC) this quarter on back of robust 5.2% quarter (CC) in Q2.

Engineering and R&D services grew at robust 8.3% quarter-on-quarter (20% year-on-year CC), driven by traction in digital engineering and IoT Works.