50% HCL Staff Will Permanently Work From Home; Profits Rise By 24%, Becomes Fastest Growing IT Firm?
HCL, considered as one of the top 5 Indian IT firms, has declared that 50% of all employees will continue to work from home, even after the lockdown ends, and coronavirus goes away.
Meanwhile, they have posted an increase of 24% in their net profits, which makes them the fastest growing Indian IT firm today.
HCL: 50% Of Our Employees Will Work From Home
While announcing their 4th quarter results for 2020, HCL CEO C Vijayakumar declared that even when coronavirus goes away, 50% of all HCL employees will continue working from home.
He said, “It’s going to take some time to see what the long term operating model will be. But directionally, I see 50% of our employees will work from home and 50% will work from offices in the next 12-18 months,”
During the lockdown phase, and for the next couple of months, HCL expects less than 10% employees to come to office.
As of now, around 93% of HCL employees are working from home.
This way, HCL joins the league of TCS, Infosys and other IT firms, who are pushing for an work from home model for majority of their employees, even in the post-corona world.
TCS has already announced that 75% of their employees need not come to office by 2025, a big, massive paradigm shift in the way IT business is now evolving.
HCL Profits Rise By 24%
Meanwhile HCL has reported an increase in profits by 24.3%, which makes them the fastest growing IT firm in India.
Their CEO said, “We would probably be the fastest growing IT company in FY20. We grew close to 16.7 per cent year-on-year, which is a fantastic growth, a big chunk of that — 10.7 per cent — was from organic growth.”
For the 4th quarter, HCL reported a net profit of Rs 3154 cr, which is 24.3% more than last year.
For the same period, HCL’s revenue increased by 16.3% to Rs 18,587 crore.
HCL experienced minimal impact due to coronavirus this quarter, but have refrained from forecasting any outlook.
We will keep you updated, as more details come in.