DBT Bureau
Bengaluru, 13 January 2024
HCLTech posted a 6% rise in its consolidated net profit at Rs 4,591 crore in the third quarter of current financial year. It reported a profit of Rs 4,350 crore a year ago.
Revenue from operations rose 5% to Rs 29,890 crore, compared with Rs 28,446 crore reported in the same quarter of last year.
In dollar term, revenue of the Shiv Nadar-promoted company was at $3.53 billion, an increase of 3.8% in constant currency term over the previous quarter. HCL Tech Services revenue increased 2.2 per cent on sequential basis.
“HCLTech delivers another quarter of solid growth at 3.8 per cent QoQ in constant currency and EBIT at 19.5%. I am pleased that this growth is powered by broad based performance across business lines as our clients across verticals and geos reaffirm their confidence in our Digital and AI offerings. Our new deal bookings were healthy during the quarter at $2.1 billion with wins across services and software,” C Vijayakumar, CEO & Managing Director of HCLTech said.
The company has also revised its revenue growth guidance upwards. It now expects its revenue to grow between 4.5-5 per cent in constant currency term during FY25 as compared to 3.5-5 per cent guided earlier. Similarly, it expects the operating margin to be in between 18-19%.
The It firm’s operating margin stood at 19.5%, an increase of 90 basis points over the previous quarter.
During the quarter, total employee count of the Noida-headquartered company rose by 2,134 to 220,755. Its attrition stood at 13.2 per cent as compared to 12.8 per cent a year earlier.
