IT major HCLTech made key announcements following its second-quarter results, which came amid an uncertain phase caused by the recent H-1B visa fee hike in the US and layoffs across IT firms. The company said it plans to reduce its reliance on H-1B visas and roll out salary increments for its employees.
Here are the key highlights from the second-quarter results for the period ended September 2024.
1. FY26 Guidance unchanged
HCLTech maintained its revenue growth guidance at 3–5% year-on-year in constant currency terms for FY26. It expects services revenue to grow between 4–5%, higher than the previous quarter’s forecast of 3–5%. The EBIT margin guidance remains unchanged at 17–18%, the same as in Q1 FY26.
2. HCLTech to reduce dependence on H-1B visas
Following uncertainty over the impact of the recent $100,000 H-1B visa fee hike in the US, HCLTech Managing Director C. Vijayakumar said the company has been making a conscious effort to reduce its dependence on visas.
“Recent H-1B visa revision and its potential impact on us. Over the years, we’ve made a conscious effort to reduce our reliance on visas by strategically strengthening our global delivery model,” Vijayakumar said while addressing concerns about the visa fee revision and its potential impact on the company.
3. HCLTech to roll out annual increments from October
HCLTech’s Chief People Officer, Ram Sundararajan, said the IT major will begin rolling out annual salary increments from October 2025, following the same process as last year.
“We have decided to roll out the increments effective October and will follow the same procedure as last year for implementing the process,” Sundararajan said.
The company’s total headcount rose to 2,26,640 in Q2, with a net addition of 3,489 employees. HCLTech also onboarded 5,196 freshers during the quarter. The attrition rate fell to 12.6%, compared with 12.9% a year ago.
4. HCLTech declares Rs 12 interim dividend, record date October 17
HCLTech announced the third interim dividend of the current fiscal. It has declared an interim dividend of Rs 12 per equity share of Rs 2 each for the financial year 2025–26. The record date for the dividend is set as October 17, and the payment will be made on October 28. In the previous quarter as well, HCLTech had declared an interim dividend of Rs 12 per equity share.
5. HCLTech Q2 revenue rises 10.67% year-on-year
HCLTech reported consolidated revenue of Rs 31,942 crore for the quarter, showing steady growth from Rs 30,349 crore in the previous quarter (Q1FY26). However, on a yearly basis, the revenue rose 10.67% from Rs 28,862 crore in the same quarter last year.
The IT major’s total income stood at Rs 32,357 crore, up from Rs 30,805 crore in Q1FY26.
HCLTech reported a 10.2% quarter-on-quarter increase in its consolidated net profit to Rs 4,236 crore from Rs 3,844 crore in Q1FY26.
However, on a yearly basis, the net profit remained broadly unchanged from Rs 4,236 crore in the same period last year.