HCL Tech attrition rate at 23.8% in September quarter; company adds 8,359 employees

HCL Technologies Limited added 8,359 people to its workforce for the quarter ended 30 September taking the overall headcount to 219,325, the company said in its filing to the exchanges. The LTM (Last Twelve Months) attrition stood at 23.8 per cent (voluntary) in IT services, the company said. The third largest Indian IT company by way of market capitalisation added 10,339 freshers. 

The company announced its quartely earnings of Q2 of FY23 where it reported INR Revenue of Rs 24,686 cr for the reporting quarter which was up 5.2 per cent QoQ and up 19.5 per cent YoY. In Constant Currency terms, the revenue was up 3.8 per cent QoQ and 15.8% YoY, the exchange filing said.

FY2023 Guidance
• Services Revenue expected to grow 16 per cent –17 per cent YoY in Constant Currency
• Revenue guidance increased to 13.5 per cent –14.5 per cent YoY in Constant Currency
• EBIT margin guidance revised to 18 per cent–19 per cent