India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
The awards were given by the UN's body on women for their work on principles of women's empowerment and helping champion gender equality.
'I expect IT stocks to trade lower for some time. They are unlikely to make money for investors.'
Software exporter HCL Technologies (HCLT) on Wednesday said it will hire about 3,000 people in the July-September quarter.
Software exporter HCL Technologies (HCLT) on Wednesday said it will hire about 3,000 people in the July-September quarter.
Software exporter HCL Technologies on Tuesday reported a standalone net profit of Rs 192.94 crore (Rs 1.92 billion) for the quarter ended June 30, 2009, while it had a net loss of Rs 13.54 crore (Rs 135.4 million) in the corresponding period previous fiscal.
HCL Technologies plans to double its fresher hiring for the upcoming financial year (FY23) as attrition continues to inch up. The company said that it will hire 40,000-45,000 freshers for FY23, up from 20,000-22,000 target for FY22. The company also stated that to ease supply-side constraints and to have access to diversified skills, it was expanding into other geographies over the next three-four quarters. "Some of the geographies that we are investing in to source talent include countries like Romania, Hungary, Bulgaria, Guatemala, Costa Rica. We are also ramping up our presence in Sri Lanka, Vietnam, Australia, New Zealand, etc.
C Vijayakumar, the reticent chief executive of HCL Technologies, India's third-largest IT services firm, was recently appointed managing director, succeeding the founder, Shiv Nadar. Back in October 2016, when CVK, as he is popularly called within and outside of HCL, was named CEO, it had been somewhat of a surprise - his elevation being the result of his predecessor, Anant Gupta, suddenly stepping down to "pursue personal interests". CVK, 53, has since taken the firm from under $7 billion to over $10 billion in revenue.
Only Mukesh Ambani and Gautam Adani are ahead of her.
Converts part of fixed salary component into variable one
India's top IT services firms delivered single-digit revenue growth in April-June, capping off a mixed, somewhat-sobering quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decisionmaking. Management commentary painted a mixed picture, caution prevailed, yet industry CEOs also emphasised cost optimisation, vendor consolidation, and opportunities in AI makeovers.
Among Sensex firms, Tech Mahindra, HCL Tech, Eternal, Axis Bank, Maruti, Tata Steel, HDFC Bank and Asian Paints were the gainers. However, Adani Ports, Trent, Tata Motors, Hindustan Unilever and NTPC were among the laggards.
Mutual funds (MFs) - flush with cash amid record inflows in July - invested heavily in the Rs 25,000-crore qualified institutional placement (QIP) of India's largest lender State Bank of India (SBI). Fund managers acquired SBI shares worth Rs 10,200 crore last month, making the lender their biggest buy in July.
Anant Gupta, HCL Technologies' chief has an amazing success formula to get things done.
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
From the Sensex firms, Trent, Tech Mahindra, Bajaj Finserv, Reliance Industries, Infosys, Kotak Mahindra Bank, HCL Technologies, and NTPC were among the biggest laggards. However, Eternal, Tata Motors, Sun Pharma, Tata Steel, and Titan were the gainers.
From the Sensex firms, Bajaj Finance, Infosys, Hindustan Unilever, ICICI Bank, HCL Tech, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Consultancy Services, Reliance Industries, Axis Bank and Larsen & Toubro were among the major gainers. However, Trent, Tata Steel, Tech Mahindra and Maruti were among the laggards.
In an event-heavy week, stock investors will track quarterly earnings of several bluechip firms, the likely outcome of ongoing India-US trade talks, and inflation data for market cues, analysts said on Sunday. Moreover, global market trends and trading activity of foreign investors would also guide movement in equities, they said.
Titan, HCL Tech and State Bank of India were also among the laggards. However, Hindustan Unilever, Asian Paints, ICICI Bank, Power Grid, HDFC Bank and ITC were the gainers.
Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday amid heightened tensions in the Middle East after the US bombed three major nuclear sites in Iran. The 30-share BSE Sensex tumbled 705.65 points to 81,702.52 in early trade. The 50-share NSE Nifty dropped 182.85 points to 24,929.55.
IT services firm HCL Technologies on Friday reported a 16.7 per cent increase in net profit at Rs 2,014 crore for the quarter ended September 2016.
India's top information- technology (IT) services companies, all cash-rich, have been tightfisted about ploughing back their earnings in new projects or acquisitions and the bulk of the profits have been distributed to shareholders through dividend and share buybacks. In the past 10 years (that is, excluding the current one), the firms have reinvested in growth and expansion only around 13.5 per cent of the cash flow generated from their operations.
From the Sensex pack, HCL Tech, Infosys, Tech Mahindra, Reliance Industries, Bajaj Finserv, ICICI Bank, Tata Motors and Eternal were the lead gainers. Power Grid, Adani Ports, IndusInd Bank, Nestle, HDFC Bank and Hindustan Unilever were among the laggards.
HCL Technologies today reported a 58.4 per cent rise in consolidated net profit at Rs 1,496 crore (Rs 14.96 billion) for the second quarter ended December 31, 2013, on the back of growth in manufacturing and infrastructure services.
'Advanced skills is such a broad spectrum that a simple prompt engineer to a critical upper end LLM developer are clubbed under one.' 'In addition, some include their non-technical employees who can use AI tools under this talent base.'
Among Sensex firms, Eternal, Infosys, Tata Consultancy Services, Tech Mahindra, Reliance Industries, Asian Paints, HCL Tech and Adani Ports were the laggards. Power Grid, Bajaj Finance, NTPC, State Bank of India and IndusInd Bank were among the gainers.
Company's revenue growth is likely to be volatile going ahead
The information technology (IT) services industry may be headed for another year of sluggish growth. Based on the results of the top five IT services companies for the first quarter of 2025-26 (Q1FY26), analysts say the possibility of hitting high single-digit revenue growth in FY26 looks unlikely.
IT services major HCL Technologies is looking at hiring about 20,000 people over the next two quarters to meet the demand coming in on the back of strong growth in deal signing and adoption of digital services. The Noida-based company, which crossed $10 billion milestone in the calendar year 2020, had 159,682 employees at the end of December 31, 2020. It saw a gross addition of 12,422 people, while net addition during the December 2020 quarter was of 6,597 people. Attrition for IT services (on last 12 month basis) was at 10.2 per cent.
Despite there being expectations of a couple of positive developments on the counter, HCL Tech has remained subdued following a general downturn in the technology sector.
IT firm HCL Technologies on Thursday opened a new Global Delivery Centre in Redmond, Washington, where the company will initially invest $4 million (about Rs 19 crore), leading to the creation of 400 jobs over the next two years.
While TCS cited evolving business needs and future readiness as reasons, industry experts say the action is a cost-cutting measure aimed at improving operating margins that have remained below the firm's aspirational range despite multiple efforts.
IT services provider HCL Technologies on Wednesday said it will hire 5,000 people this year.
HCL Technologies surged on Monday after the company said that it has won a BPO order worth $160 million from British Telecom.
HCL Technologies on Friday said it has opened a global IT development centre in Sao Leopoldo, Brazil, to cater to clients across Latin America, North America and Europe.
Consolidated revenues grew by 13.4% at Rs 9,283 crore.
During the quarter, HCL added 37 customers.
Roshni, also a trained classical musician, came on the board of HCL Technologies in 2013 and was vice chairperson. Shiv Nadar would continue to be MD of the company with designation as chief strategy officer.
HCL Technologies will be adding 5,000 people to its business process outsourcing division, which now has 10,000 members.
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