HCL Technologies Q4 PAT flat at `3,986 crore

crore, as against Rs 6,417 crore in the previous fiscal.

The total consolidated income rose to Rs 1,10,383 crore, as against Rs 82,072 crore in the previous financial year.

BFS participates in the financing business through its 51.34 per cent holding in Bajaj Finance Ltd (BFL) and in the life, general, and health insurance businesses through its 74 per cent holding in two unlisted subsidiaries. Bajaj Allianz General Insurance Company Ltd (BAGIC) and Bajaj Allianz Life Insurance Company Ltd (BALIC).

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 company posted a consolidated net profit of Rs 3,986 crore in the fourth quarter of

FY24 as against Rs 3,983 crore in the same period last year.

Sequentially, the company's profit declined 8.4 per cent from Rs 4,350 crore in the October-December period, the company said in a filing. HCLTech CEO C Vijayakumar said he believes the company has delivered decent results. "From a business performance perspective, when we started the year, there was cautious optimism around growth in line with the market momentum at that time. He attributed the growth to good momentum in the company's services and software businesses.