HCL Technologies to hire 9,000 freshers by March 2021

IT major HCL Technologies on Friday said it is planning to hire up to 9,000 freshers in the second half of this fiscal. Commenting on September quarter earnings report, HCL’s Chief Human Resources Officer (CHRO) Apparao VV said, “We expect a large number of recruitments to happen before December.” It would be much more than the first two quarters.

For the full financial year 2020-21, HCL aims to hire 15,000 freshers on the back of a robust demand environment and a strong pipeline. This is going to be 6,000 more than last year’s figure of 9,000. As of September 30, 2020, HCL had 153,085 employees, while attrition for IT services stood at 12.2 per cent.

The Noida-based company said it has rolled out salary hike for up to E3 levels (junior level) effective from October 1, and for E4 and above levels effective from January 1, 2021. The company has deferred performance appraisals for this cycle amid COVID-19 outbreak.

Last year, the company had offered an average hike of 6 per cent to its employees in India and 2.5 per cent to overseas employees.

For the July-September quarter, HCL Technologies reported 18.5 per cent rise in net profit at Rs 3,142 crore YoY in the September quarter. The company’s revenue rose 4.2 per cent to Rs 18,594 crore from Rs 17,841 crore in the previous quarter, while the dollar revenue surged 6.4 per cent to $2,507 million. In terms of future guidance, HCL sees constant currency revenue growth of 1.5-2.5 per cent in Q3 and Q4. The EBIT margin in FY21 is also expected to surge to 20-21 per cent.

“We have delivered a stellar Q2 performance with a sequential revenue growth of 4.5 per cent in constant currency and 21.6 per cent EBIT margin,” HCL Technologies President and CEO C Vijayakumar said.

HCL Tech’s board has also declared an interim dividend of Rs 4 per equity share of Rs 2 each for the Financial Year 2020-21. It has fixed October 24 as record date and November 9 as payment date for dividend payment.

Following Q2 results, shares of HCL Tech ended day’s trade at Rs 827.10, down 3.76 per cent, against the previous closing price of Rs 859.45 on the BSE. Business Today