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HCL Technologies to roll out salary hikes from October 2020, ramp up hiring

On the back of strong quarterly results, HCL Technologies on Friday announced pay hikes for its employees across all bands.

Published: 17th October 2020 12:44 PM  |   Last Updated: 17th October 2020 12:44 PM   |  A+A-

HCL

HCL Technologies image used for representation (File Photo | Reuters)

By Express News Service

NEW DELHI:  On the back of strong quarterly results, HCL Technologies on Friday announced pay hikes for its employees across all bands. While junior employees will get hikes effective October, increments for seniors will come into effect January 2021, the company said, adding it also plans to ramp up hiring "significantly".

The Noida-headquartered IT services provider posted a net profit of Rs 3,142 crore for the September quarter, up 7.4 per cent sequentially and 18.5 per cent year-on-year. Revenue in constant currency terms grew by 6.1 per cent to Rs 18,594 crore whereas EBIT margin stood at 21.6 per cent.

With optimism returning to the IT industry, HCL Tech has provided a guidance of 1.5-2.5 per cent QoQ revenue hike for FY21 with EBIT (earnings before interest and tax) in the range of 20-21 per cent.

"These unprecedented times and the volatile global business environment have changed the way organisations operate. Enterprises are accelerating the adoption of technology and sharpening their focus on being resilient and better prepared for unpredictable situations. As businesses rethink, redefine and refine their ways of working, it has become imperative for them to adopt sustainable practices that complement their agile business models," said Shiv Nadar, Chief Strategy Officer, HCL Technologies. The company said that it signed 15 deals, led by industry verticals such as life science and healthcare.



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