HCL Technologies Ltd has recorded a consolidated net profit of Rs. 3442 in the quarter that ended December 2021. The company has recorded a 13.3 year-on-year (YoY) degrowth.
HCL Tech has also stated that it will be increasing its hiring rate by twice – the company plans to hire 20000 – 22000 freshers in FY22.
Read on to find out all the details!
HCL Reports 5.6 Percent Growth In Profit
The growth in profit registered by HCL on a sequential basis is by 5.6 percent. The company had reported a consolidated profit after tax (PAT) of Rs 3,969 crore in the corresponding quarter last year. Whereas, the preceding quarter saw a PAT of Rs. 3259 crore.
As per Roshni Nadar Malhotra, Chairperson, HCL Technologies Ltd, “As the global economy revives and we emerge from this crisis, we will continue to meet future challenges armed with our core beliefs of innovation and invention, driven by a strong faith in humanitarian values.”
Its consolidated revenue during the September to December period is Rs 22,331 crore, which is an increase of 15.7 percent that of the corresponding quarter and an 8.1 percent increase from the previous quarter.
Additionally, the consolidated revenue in the same period last year was Rs. 19302 crores, and Rs. 20655 crores in the preceding quarter.
HCL Tech To Hire 20-22000 Freshers?
HCL will be hiring double the number of freshers in Y23 to meet the demand for technology services and deal with the lessening supply and rising attrition.
HCL plans to hire 20,000-22,000 freshers in FY22 in addition to the 17,500 freshers that have been employed already. The remaining freshers will be added in the fourth quarter.
During January and December 2021, HCL hired 38,095 people, and 10,143 of these were added in the October to December quarter.
The company is struggling with a huge 19.8 attrition rate. The attrition rate was 15.7 percent in the second quarter, which is a massive increase from 11.8 percent in the last quarter.
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