HCL Tech Q4 net profit flat at ₹3,986 crore

HCL Technologies (HCLTech) on Friday reported a consolidated net profit of ₹3,986 crore for the fourth quarter that ended on March 31, a marginal growth year-on-year (y-o-y) as compared with ₹3,983 crore in FY23.

Consolidated revenue for the quarter in review grew by 7.11 per cent y-o-y to ₹28,499 crore as compared to ₹26,606 crore in the corresponding period last year.

The company gave a guidance of three-five per cent growth in revenue in constant currency terms for FY25 and an EBIT margin of 18-19 per cent.

“Led by a di€erentiated portfolio, HCLTech continues

Roshni Nadar Malhotra, Chairperson, HCLTech

to grow despite global economic and geopolitical headwinds. Our focus on doing business sustainably and responsibly is sharper than ever as we scale our community initiatives beyond India,” Roshni Nadar Malhotra, Chairperson, HCLTech, said.

During the quarter in review, the company won 22 deals worth $100+ as compared with 19 in the same quarter last year and 46 deals of worth $50+ same as quarter fourth in FY23.

ATTRITION RATE

The company recorded a headcount of 2,27,481 at the end of March this year as compared with 2,25,944 people in March 2023. Attrition rate of the company also came down to 12.4 per cent by the end of March as compared with 19.5 per cent in March 2023.

“HCLTech continues to lead the industry in FY24 with good Dollar revenue growth of 5.4 per cent y-o-y during challenging times through our strong commitment to our clients and our people. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalise with our AI led propositions, Global delivery model and ideal mix of technology services and products.” C Vijayakumar, Chief Executive O®cer and Managing Director, HCLTech said.

DIVIDEND

For the entire FY24, HCLTech reported a 5.73 per cent y-o-y rise in net profit to ₹15,702 crore. The revenue during FY24 also grew by 8.33 per cent at ₹1,09,913 crore, up 8.33 per cent over the previous fiscal.

Meanwhile, the board declared an interim dividend of ₹18 per equity share of ₹2 each for FY25. The payment date of the interim dividend will be May 15, 2024.