HCLTech: The entire income of the Noida-based IT firm increased to Rs 28,816 crore in the third quarter of FY24.
HCL Technologies Ltd reported a 6.23 percent increase in third-quarter net profit to Rs 4,351 crore, up from Rs 4,096 crore in the previous year. The overall income of the Noida-based IT firm increased to Rs 28,816 crore in Q3 FY24, up from Rs 26,960 crore in the same period last year. The market closed, and the quarterly results were announced. HCL Tech shares closed the day up 3.85 percent at Rs 1,543.
HCL Tech’s board of directors has declared an interim dividend of Rs 12 per equity share of Rs 2 for the fiscal year 2023-24 (FY24). The record date for the payment of the aforementioned interim dividend has been set as January 20, with the payment date set as January 31. In terms of FY24 guidance, the company stated that sales growth might range between 5% and 5.55% year on year (YoY). HCLTech
The revenue prediction includes revenue from the German engineering business ASAP, which it purchased in July 2023 for $279 million. We delivered a stellar operating margin of 19.8 percent, up 126 basis points (bps) QoQ and 16 bps YoY. We are very pleased with the strategic progress made by HCLSoftware over the last year, stated C Vijayakumar, CEO and managing director of HCLTech. During the third quarter of the current fiscal year, the company said that it had won 18 significant deals, six in services and twelve in software.
The IT giant emphasized a total headcount of 2,24,756, inclusive of a net increase of 3,617 employees. The attrition rate experienced a decline to 12.8%, marking a decrease from the 21.7% recorded in Q3 of the previous year.
