HCL Tech reports 20% y-o-y jump in Q1FY25 net profit

15 Jul 2024 , 02:58 PM

HCL Technologies (HCLTech) said on July 12 that its Q1FY25 consolidated net profit increased by 20% to ₹4,257 Crore from ₹3,534 Crore in the previous year.

The income from operations of the Noida-based IT services firm increased by 6.7% to ₹28,057 Crore in Q1FY25, compared to ₹26,296 Crore in the same period last year.

The company issued an interim dividend of ₹12 per equity share with a face value of ₹2 for fiscal year 25. The interim dividend will be paid on August 1, 2024, with the record date set for July 23, 2024.

The company maintained its constant currency revenue growth target for FY25 in the range of 3-5%. The company’s FY24 projection ranged from 5 to 5.5%. Operating or EBIT margins were likewise maintained at 18-19% for FY25.

The company’s headcount declined by 8,080 employees in Q1, bringing the overall workforce to 2.19 lakh. HCLTech stated that the drop in headcount was due to divestment.

The company’s attrition rate was 12.8% over the last twelve months (LTM), down from 16.3% the previous year.

In Q1, the company recorded a total contract value of $1.96 billion, which was up year on year but down sequentially. In Q4, HCLTech’s new business wins were $2.29 billion, compared to $1.57 billion in Q1 FY24.

At around 1.07 PM, HCL Tech was trading 1.20% higher at ₹1,578.95 per piece, against the previous close of ₹1,560.20 on NSE. The counter touched an intraday high and low of ₹1,636.40, and ₹1,575, respectively.

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