DBT Bureau
Bengaluru, 14 October 2024
HCLTech reported sound second quarter performance on Monday as its revenue grew 1.6% sequentially in constant currency term.
The net profit of the company rose 11% to Rs 4,235 crore year-on-year (YoY) basis. Revenue during the September quarter stood at Rs 28,862 crore, up 8.2% over a year ago.
Revenue stood at $3.45 billion, an increase of 1.6% quarter on quarter in constant currency basis.
“We delivered a strong quarter with revenue growing 1.6% QoQ in constant currency and EBIT coming in at 18.6 per cent. This growth was well distributed across verticals, geographies, and offerings. HCL Software has delivered a stellar performance of 9.4% YoY this quarter and 6.4% growth in H1 FY25 in constant currency, demonstrating the increasing relevance of our products for the digital economy,” C Vijayakumar, CEO of HCLTech said.
“Our pipeline is very strong, including Data & AI, Digital Engineering, SAP migration and efficiency led programs,” he added.
The Noida-headquartered firm improved its margin to 18.6% in Q2 of FY25, up 1.5% over the previous quarter.
The company also tweaked its revenue growth guidance for FY25. It now expects its revenue to grow by 3.5-5% from earlier guidance of 3-5%. However, it retained its operating margin guidance at 18-19%.
The total contract value (TCV) of the company was at $2.21 billion in the September quarter.
During the September quarter, HCLTech’s headcount fell by 780 people to 218,621. HCL Tech also declared an interim dividend of Rs 12 per share.
HCLTech’s share price closed 1.38% up at Rs 1,865 in NSE on Monday.
