The salary hikes will have a minimal impact on HCL’s operating margins in the December 2024 quarter as the company will take efficiency steps to offset the impact, says Chief People Officer Ramachandran Sundararajan.
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IT major HCL Technologies has given a salary hike of 7 per cent to its employees. The pay increment, which will be effective October 2024, for top performers is up to 12-15 per cent, Chief People Officer Ramachandran Sundararajan has said.
The salary hikes will have a minimal impact on HCL’s operating margins in the December 2024 quarter as the company will take efficiency steps to offset the impact, said Sundararajan.
The number of employees eligible for the hike will depend upon the company’s review cycle and the proportion of lateral hires who become eligible after completing a year of service.
HCL Tech had a total of 2,18,621 employees as of September 30, 2024, which is lower by 780 employees as compared to July 31, 2024.
Meanwhile, HCL Technologies on Monday reported an 11 per cent rise year-on-year in its net profit to Rs 4,235 crore, beating Street expectations, for the second quarter of FY25. The revenue from operations for India’s third-largest IT major during July-September 2024 rose 8.2 per cent to Rs 28,862 crore.
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On a quarter-on-quarter basis, HCL Tech’s net profit slipped by a marginal 0.5 per cent. However, its revenue grew by about 3 per cent.
It also declared an interim dividend of Rs 12 per equity share for the financial year 2024-25. The company has fixed October 22 as the record date and October 30 as the payment date.
