HCL Technologies Q3 Results: PAT grows 6% YoY to Rs 4,591 crore, revenue up 5%, Rs 18 dividend declared
Revenue from operations in the third quarter rose 5% to Rs 29,890 crore, compared with Rs 28,446 crore in the same quarter of last year.
The Board has declared a fourth interim dividend of Rs 18 per share, which includes a special dividend of Rs 6 per share to celebrate 25 years of the company’s public listing.
The company has reported an operating EBIT (earnings before interest and tax) of Rs 5,821 crore for the third quarter, which was up 4% YoY and nearly 9% QoQ (quarter-on-quarter).
HCL Tech Q3 Results Live updates
In constant currency (CC) terms, revenue growth for the quarter stood at 4% YoY. Meanwhile, the USD revenues during the reporting period rose 3.5% YoY to $3.53 billion.HCL Tech said the growth during the quarter is powered by broad based performance across business lines. “Clients across verticals and reaffirmed their confidence in our digital and AI offerings. We are positioning ourselves for a future that is transformative, with AI empowering businesses and employees,” said C Vijayakumar, CEO and MD HCL Tech.Its new deal bookings were healthy during the quarter at $2.1 billion with wins across services and software. The IT company further said it continues to see growing demand for its AI led propositions across services and software offerings.
Segment wise, HCL Tech’s services revenue in CC terms rose 5% YoY and 2% QoQ, while the digital revenues was up 6% YoY.
The company sees its revenue growth to be between 4.5-5% YoY (CC) for the current fiscal year, while EBIT margins are expected anywhere between 18-19%. It also pegged services revenue growth for FY25 between 4.5-5% YoY.
HCL Tech has added a net of 2,134 employees during the third quarter with LTM attrition was slightly higher from the year-ago quarter at 13.2%.
The company closed the quarter with highest ever cash balance of Rs 27,707 crore as cash conversion (on LTM basis) continued to outpace its 5-year FCF/NI average of 126%.
On Monday, HCL Tech shares closed 1.01% lower at Rs 1,975 on NSE.
