HCL Tech Q2 PAT at ₹3,489 cr; Co to pay ₹10 dividend | Mint – Mint

HCL Tech’s consolidated revenue in the quarter under review climbed 5.2% QoQ and 19.5% YoY to ₹24,686 crore as against ₹20,655 crore in Q2FY22.

The company’s board has also approved an interim dividend of ₹10 per share for the shareholders. The record date for the payment of the interim dividend has been fixed on 20 October, 2022. “The Payment date of the said interim dividend shall be November 2, 2022,” the company said in a regulatory filing.

In an unexpected move, the IT company has raised its revenue growth guidance for FY23. HCL Tech now sees 13.5-14.5% growth in revenue in constant currency, as compared to 12-14% projected earlier.

However, the firm has reduced the upper end of its EBIT margin guidance for FY23. It now sees margins in the 18-19% range, as against 18-20% earlier. The firm expects services revenue to grow 16-17% on year in constant currency terms in FY23.

Headcount and attrition

The IT major has added 10,339 freshers during the quarter under review. Net addition of 8,359 employees were made during the quarter, the company said in a statement. HCL Tech’s total employees count stood at 219,325.

For this quarter, HCL Tech’s attrition (LTM) remained at 23.8% in Q2FY23.

Roshni Nadar Malhotra, Chairperson of HCL Tech, said: “Our new brand identity brings razor-sharp focus to our go-tomarket strategy and execution capabilities to supercharge the digital transformation of our clients with the best of technology and people.”

“With our differentiated portfolio, we are well-positioned to leverage the opportunities that lie ahead in the digital-first world,” Malhotra added.

“Our bookings and pipeline continue to be very strong, that augurs well for our future growth,” said C Vijayakumar, CEO & Managing Director of HCL Tech.

On Wednesday, the company’s stock on the BSE closed 1.5% higher at ₹953 apiece.