India’s third-largest IT services major HCLTech’s headcount increased by 2,665 employees QoQ during the March quarter, taking the total headcount to 2.23 lakh, down 4,061 employees year-on-year.
In Q3FY25, the Noida-based company’s headcount increased by 2,134 employees.
This comes after the rivals Tata Consultancy Services (TCS), Infosys, and Wipro added 13,553 employees in FY25.
The Noida-headquartered company’s FY25 constant currency year-on-year revenue increased 4.7 percent, which is the second consecutive year of single-digit growth.
The IT company’s attrition rate marginally decreased to 13 percent from 13.2 percent in the previous quarter.
HCLTech added 7,829 freshers in the fiscal year, achieving its target of adding 7,000 in FY25. However, the company had reduced its hiring target from 10,000 to 7,000 in Q3.
For Q4FY25, the company added 1,805 freshers.
"We're not trying to define an annual plan in the current climate, it's a lot more prudent to make plans quarterly. Every quarter, we will continue to hire 2,000. And that overall, on an annual basis, would be significantly higher than what we did in FY25," said Ramachandran Sundararajan, Chief People Officer, HCLTech, while addressing a press conference after declaring the results.
The company said it saw a reduction of headcount by 7,398 employees in the year on account of a divestiture. In April 2024, HCL Investments UK agreed to sell its entire 49 per cent stake in a joint venture (JV) with US-based State Street International Holdings.
HCLTech on April 22 reported an 8 percent on-year rise in net profit at Rs 4,307 crore for Q4, up from Rs 3,986 crore in the same quarter previous fiscal. This is a seasonally weak quarter for the company due to sluggishness in the product business and margin pressures.
The company also announced a dividend of Rs 18 per share.
Ahead of the results today, HCLTech shares on BSE closed 0.26 percent higher at Rs 1,486 apiece on NSE.
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