HCL Tech Q4 results: Net profit at Rs 3,983 crore, better than analysts' estimates; Rs 18/share dividend announced
HCL Tech (HCLTECH) — India's third largest IT company by market capitalisation after TCS and Infosys — reported a net profit of Rs 3,983 crore for the quarter ended March 2023, marking a decline of 2.8 per cent compared with the previous three months but better than analysts' estimates.
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05:30 PM IST
HCL Technologies (HCLTECH) on Thursday reported a net profit of Rs 3,983 crore for the January-March 2023 period, marking a sequential decline of 2.8 per cent but still better than analysts' estimates.
According to Zee Business research, Noida-based HCL Tech — India's third largest IT services firm by market value after Tata Consultancy Services (TCS) and Infosys — was estimated to report a net profit of Rs 3,850 crore for the final three months of the financial year gone by.
HCL Tech's quarterly numbers come days after TCS and Infosys reported weaker-than-expected set of financial results for the three-month period.
Despite robust demand, Indian IT companies are struggling to protect their margins from a rise in employee costs incurred to tackle high levels of attrition in the sector. Read more on TCS and Infosys results
HCL Tech (HCLTECH) shares: Historical performance
HCL Tech shares finished the March quarter with a gain of 4.5 per cent, in contrast to a 4.1 per cent fall in the Nifty headline index.
As of April 19, the stock has declined 0.2 per cent on a year-to-date basis.
(This story will be updated shortly)
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