HCL Tech Q2 results: Attrition rate drops to 12.9%; 2,932 freshers added

HCL Technologies on Monday released results for the quarter ended September 2024, reporting a 10.5 per cent rise in net profit to ₹4,235 crore, compared to ₹3,833 crore in the corresponding period of the previous year.

The IT major's attrition rate fell to 12.9 per cent, down from 14.2 per cent in Q2 of last year, it said in a regulatory filing.

The firm said its total headcount as of September 30, 2024, stood at 2,18,621, compared to 2,21,139 on September 30, 2023.

Moreover, the company's net addition of people was 780 in Q2 of FY2024-25, compared to 2,229 in the same period of the previous year. HCL Tech also added 2,932 freshers in Q2 of FY2024-25, compared to 3,630 in the previous year.

Compared to ₹26,672 crore recorded in the corresponding quarter of the previous fiscal year, HCL Tech reported a rise in revenue from operations to 28,862 crore in Q2 of FY 2024-25. This was a rise of 2.9 per cent QoQ and 8.2 per cent YoY.

The company's EBIT stood at ₹5,362 crore, up 11.8 per cent QoQ and 8.7 per cent YoY.

“We remain committed to delivering business growth in a sustainable and responsible way. We have sharpened our focus on upskilling our people in next-generation technologies to continue enabling the art of the possible for our clients. Our global community engagement footprint continues to grow,” said HCL Tech Chairperson Roshni Nadar Malhotra.

Dividend announced:

The board of HCL Technologies announced an interim dividend for the financial year 2024-25. It is offering ₹12 per equity share of ₹2, according to the exchange filing.

“The Board of Directors has declared an Interim Dividend of Rs. 12 /- per equity share of Rs. 2/- each of the Company for the Financial Year 2024-25,” it said in the exchange filing.

HCL Technologies shares closed 0.89 per cent higher at ₹1,856 after Monday's trading session, compared to ₹1,839.55 at the previous market close.