HCLTech bucked industry trend for the second consecutive quarter, adding 2,725 employees in the fourth quarter ended March 31.
Net fresher addition in Q4 stood at 3,096 freshers. For the full year, HCLTech added 12,141 freshers.
The company's total headcount in Q4 was 227,481. It added 1,537 employees YoY in FY24.
HCLTech’s attrition in the last 12-month (LTM) basis for Q4 stood at 12.4 percent compared to the 12.8 percent reported last quarter. This is the lowest attrition for the company since the COVID-19 quarter in 2021.
Speaking at the Q4 earnings conference on April 26, Ramachandran Sundararajan, chief people officer, HCLTech said, "This is perhaps one of the years where we have bucked the trend through net addition over the year. This quarter we also added over 3,000 freshers. The program to add freshers continues through the year. Attrition this quarter at 12.4 percent, is one of the metric where we continue to trend towards the right direction over the last few quarters."
"We have put in a lot of efforts and investments into trying to upgrade the number of people practices we run in the organisation. We have also added more programs. All of this has also led to a lot of recognition. This year we had more than 12 awards for being the top employer, learning initiatives, diversity and so on," he added.
HCLTech also plans to add over 10,000 freshers in FY25.
On the contrary, all the other top 5 Indian IT services peers have reported a decline in both sequential and full year headcount in FY24, in a record development.
TCS' full-year headcount was down by 13,249, Infosys’ headcount dropped by 25,994, while Wipro added 24,516 fewer employees in FY24. Tech Mahindra, which reported its earnings on April 25, saw its headcount drop by 6,945.
HCLTech reported its Q4 earnings, with net profit of Rs 3,986 crore as against Rs 3,983 crore in the year-ago period, growing 0.1 percent YoY. The IT firm declared Rs 18 dividend.
The company posted a 7.1% increase in revenue at Rs 28,499 crore in Q4FY24 as compared to Rs 26,606 crore in the year-ago period.
For the full year FY24, revenue went up by 8.3 percent YoY to Rs. 109,913 Crores and net profit grew by 5.7 percent to Rs 15,702 crore.
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