HCL Technologies Ltd. reported an attrition rate of 12.8% for the April-June quarter of the current fiscal. The attrition figure was on par with 12.8% in the year-ago period and 13% in the preceding quarter of fiscal 2025.
The IT major's net addition of employees stood at 269 during the quarter.
The attrition rate measures the rate at which employees leave a company over a period of time. A lower rate is generally considered healthy for a company.
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HCLTech added 1,984 freshers during the quarter, bringing the total headcount to 2.23 lakh. The IT firm had added 1,078 freshers in the year ago period, and 1,805 in the previous quarter.
The company's percentage of women employees was at 28.8% for the ongoing quarter of the current fiscal, flat from 28.7% in the year-ago quarter.
HCL Technologies Q1 Results
HCLTech's profit for the April-June period declined 11% on a sequential basis, missing analysts estimates.
The software services provider's bottom line stood at Rs 3,843 crore during the first quarter of the financial year ending March 2026, compared to Rs 4,307 crore clocked in the preceding quarter. Analysts tracked by Bloomberg had pegged the profit at Rs 4,258.91 crore.
The company's employee expenses increased by 2% quarter-on-quarter compared to a revenue growth of 0.3%.
The firm's operating margin was "impacted by lower utilisation and additional Gen AI and GTM investments", according to its Chief Executive Officer and Managing Director C Vijayakumar.
“Our AI propositions are resonating well with our clients and have been augmented further by our partnership with OpenAI,” he said.
Dividend
The company also announced dividend of Rs 12 per equity share for the first quarter of the current financial year, in which the IT firm will be distributing nearly Rs 3,256 crore to shareholders through the payout.
Stock Description
Shares of HCLTech settled 1.51% lower at Rs 1,613.50 apiece on the on the National Stock Exchange before the announcement, compared to a 0.27% decline in the benchmark Nifty. The scrip has risen 3.41% over the past 12 months and fallen 15.85% year-to-date.
Out of 47 analysts tracking the company, 20 maintain a 'buy' rating, 17 recommend a 'hold' and 10 suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 4%.
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