HCL Technologies on April 20 reported a net profit of Rs 3,983 crore for the quarter ended March 2023. On a sequential basis, the profit slipped by 2.75 per cent while on a year-on-year (YoY) basis, it grew 10.85 per cent. The profit beat analysts' expectations as according to Zee Business Research, the company was expected to report a net profit of Rs 3,850 crore in the quarter under review, translating to a sequential decline of six per cent. The company's revenue from operations stood at Rs 26,606 crore, up 17.7 per cent YoY. On a sequential basis, the figures dropped 0.35 per cent. 

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Other Q4 highlights

Revenue in constant currency terms slipped 1.2 per cent QoQ and 10.5 per cent YoY while revenue in US dollar terms jumped 8.1 per cent YoY to $3,235 million. On a sequential basis, it slipped 0.3 per cent. Further, the company's Services segment revenue grew 0.6 per cent QoQ and 10.6 per cent YoY in CC terms. Its Software Revenue grew 8.2 per cent in constant currency terms YoY. The digital segment's revenue grew 16.9 per cent YoY in CC terms. 

The company also declared an interim dividend of Rs 18 for the financial year 2023-24. The record date for the same has been fixed as April 28, 2023. The payment date of the dividend shall be May 9, 2023. Further, its EBIT stood at Rs 4,836 crore, up 18.8 per cent YoY and down 7.5 per cent QoQ.  

FY24 guidance

The company expects its revenue for FY24 to grow in the band of 6 per cent to 8 per cent YoY in constant currency terms while the EBIT margin is seen between 18 - 19 per cent, the company said in its earnings release. 

Headcount and deal wins

The total number of people count as of March 31, 2023, stood at 2,25,944. Last Twelve Months (LTM) attrition stood at 19.5 per cent. The company's total deal wins during the quarter stood at $2074 million, down 8 per cent YoY.