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HCLTech reports ₹3,986 crore flat net profit in Q4 FY24

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In Short:

HCL Technologies reported a marginal increase in net profit for the fourth quarter, with a 7.11% increase in revenue. The company expects a 3-5% growth in revenue for FY25. They won more deals this quarter compared to last year. The attrition rate decreased to 12.4% from 19.5%. The CEO remains positive about growth, especially with AI adoption. HCLTech also reported a rise in net profit and revenue for the entire FY24. They declared an interim dividend for FY25.


HCL Technologies Reports Strong Performance in Q4 FY24

Hey there, fellow tech enthusiasts! Guess what? HCL Technologies (HCLTech) just shared some exciting news about their performance in the fourth quarter that ended on March 31. Let’s dive into the details!

Financial Highlights

The company reported a consolidated net profit of **₹3,986 crore** for Q4 FY24, showing a slight growth compared to the same period last year. The consolidated revenue also saw a healthy increase of **7.11%** year-on-year, reaching **₹28,499 crore**.

HCLTech also provided some guidance for the upcoming fiscal year, with a projected revenue growth of **3-5%** in constant currency terms for FY25 and an EBIT margin target of **18-19%**.

Quotes from the Leaders

Roshni Nadar Malhotra, the Chairperson of HCLTech, shared her thoughts on the company’s performance, highlighting their sustainable and responsible business practices. She mentioned, “Led by a differentiated portfolio, HCLTech continues to grow despite global economic and geopolitical headwinds.”

C Vijayakumar, the CEO of HCL Technology Ltd, expressed optimism about the future, especially with the adoption of AI. He said, “As we look ahead, global enterprise technology spend will only grow with the adoption of AI. We are well positioned to capitalize with our AI-led propositions.”

Attrition Rate and Employee Count

At the end of March 2024, HCLTech had a headcount of **2,27,481** employees, with the attrition rate dropping to **12.4%** compared to the previous year. This shows a positive trend in retaining talent within the organization.

Dividend and Full-Year Performance

For the entire FY24, HCLTech reported a **5.73%** year-on-year rise in net profit, amounting to **₹15,702 crore**. The revenue for the fiscal year also grew by **8.33%**, reaching **₹1,09,913 crore**.

Furthermore, the board declared an interim dividend of **₹18 per equity share** for FY25, with the payment date set for May 15, 2024. A great way to reward the shareholders for their continued support!

It’s fantastic to see companies like HCL Technologies thriving and setting the bar high in the tech industry. Kudos to the entire team for their hard work and dedication!

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