HCLTech Q2 Results: Profit Rises 10%, Attrition Eases To 12.6%

HCLTech Ltd. for the July-September period posted a 10.2% rise on a sequential basis, meeting analysts estimates.

The information technology company's bottom line stood at Rs 4,235 crore during the second quarter of the financial year ending March 2026, compared to Rs 3,843 crore clocked in the preceding quarter, according to its notification to the exchanges. Analysts tracked by Bloomberg had pegged the profit at Rs 4,236 crore.

• Revenue rises 5.24% to Rs 31,942 crore versus Rs 30,349 crore (Estimate: Rs 31,472 crore)

• Net profit rises 10.2% to Rs 4,235 crore versus Rs 3,843 crore (Estimate: Rs 4,236 crore)

• EBIT rises 11.33% to Rs 5,502 crore versus Rs 4,942 crore (Estimate: Rs 5,343 crore)

• EBIT Margin expanded 94 basis points to 17.22% versus 16.28% (Estimate: 16.47%).

Segmental Highlights:

• IT and Business Services up 5.51% at Rs 23,693 crore versus Rs 22,454 crore.

• Engineering and R&D services up 4.81% at Rs 5,423 crore versus Rs 5m174 crore.

• HCL Software revenue up 3.85% at Rs 2,826 crore versus Rs 2,721 crore.

HCL Technologies reported a attrition rate of 12.6% for the July-September quarter of the current fiscal. The attrition figure is lower in compariosn to the 12.9% in the year-ago period and 12.8% in the preceding quarter.

The IT major's net addition of employees stood at 3,489 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.

HCLTech added 5,196 freshers during the quarter, bringing the total headcount to 2.27 lakh. The IT firm had added 2,932 freshers in the year ago period, and 1,984 in the previous quarter.

The company's percentage of women employees was at 29.3% during the quarter ended September, higher from 28.8% in the year-ago quarter.

After HCLTech narrowed its full year guidance and margin forecast for fiscal 2026 in the previous quarter, the tech giant now expects constant currency revenue growth of 3% to 5% year-on-year for the financial year ending March 2026. It expects its services revenue guidance at 4% to 5% in against its earlier guidance of 3% to 5%.

The EBIT margin guidance has been maintained at 17%–18% for the full year.

The company reported total contract value of new deal wins stood at $2,569 million for the quarter ended September, up 41.8% quarter-on-quarter and 15.8% year-on-year.

The company also announced dividend of Rs 12 per equity share for the second quarter of the current financial year, in which the IT firm will be distributing nearly Rs 3,256 crore to shareholders through the payout.

Shares of HCLTech settled 0.05% lower at Rs 1,494.70 apiece on the on the National Stock Exchange before the announcement, compared to a 0.23% decline in the benchmark Nifty. The scrip shares have fallen 18.75% over the past 12 months and 22.05% year-to-date.