HCL Tech Q2 Results: Attrition falls to 14.2% in September quarter, headcount reduces by 2,299
HCL Tech while announcing its September quarter financial results. The IT giant firm managed to reduce its attrition rate in the current quarter compared to its attrition rate of 23.8 per cent in the year ago period. Its attrition rate stood at 16.3 per cent in the June quarter of the current financial year.
The attrition rate excludes involuntary attrition and digital process operations. Also Read: TCS buyback 2023: Expected price, history, other details. Is Infosys, Wipro, HCL Tech buyback coming soon? The total people count in the company stood at 2,21,139 in September 2023.
The workforce of the IT firm reduced by 2,299 workers in the quarter under review. The company brought 3,630 freshers onboard in September quarter. Till June 2023, company's total headcount was 2,23,438.
The numbers of hiring freshers increased from 1,590 freshers hired in previous quarter of FY24. Also Read: Infosys’s further cut in revenue growth guidance disappoints. May weigh on stock prices- Analysts The company reported a 9.8% YoY rise in its net profit to ₹3,832 crore, compared to ₹3,489 crore in the corresponding period last year.
Growth in HCL's profit margins was fuelled by a robust deal momentum even as larger macroeconomic weakness persisted in the information technology (IT) sector. Also Read: Groww overtakes Zerodha as top brokerage with 6.63 million active investors, Upstox distant fourth Maintaining its impressive dividend history, HCL Tech declared an interim dividend of ₹12 per share of ₹2 each for fiscal 2023-24. The record date of Octover 20 for the said interim dividend was fixed for the payment after receiving nod from the Board of Directors.
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