Comments
HCL Technologies (HCL Tech) reported a consolidated net profit of ₹4,351 crore in the third quarter ending December 31, a year-on-year (y-o-y) growth of 6.22 per cent, when compared to ₹4,096 crore in the corresponding period last year.
Consolidated total revenue also rose 6.53 per cent y-o-y to ₹28,446 crore during the last quarter, compared to ₹26,700 crore in the October-December quarter last year.
“We continue to execute efficiency with our differentiated portfolio and enable global enterprises to fast track their digital transformation agendas. We remain committed to scaling our ESG initiatives and helping our clients to achieve their sustainability goals through technology,” said Roshni Nadar Malhotra, Chairperson, HCL Tech.
C Vijaykumar, Chief Executive Officer and Managing Director, HCL Tech, projected the company’s growth by 5-5.5 per cent and operating margin growth of 18-19 per cent for the financial year.
“We delivered a stellar operating margin of 19.8 per cent, a 126 bps improvement quarter-on-quarter and 16 bps improvement y-o-y. We are quite excited about the strategic progress HCL Software has made over the last year, delivering five per cent y-o-y constant currency revenue growth, with a significant increase in subscription and support revenue and consistently growing annual recurring revenue (ARR),” he said.
He further said the company continues to invest in artificial intelligence (AI), specifically Generative AI, as well as cloud native capabilities across its products and services to address evolving client needs.
“In an uncertain demand environment, we remain confident of our continued growth momentum enabled by our business mix, our people and laser-sharp focus on delivering innovation and hyper-automation to our clients,” he added.
Meanwhile, the Board of Directors has declared an interim dividend of ₹12 per equity share of ₹2 each of the company for FY24. The record date of January 20 has been fixed for the payment of the aforesaid interim dividend.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.