HCLTech delivered a strong performance in the December quarter, with revenue, profit, and margins broadly meeting expectations.
The company’s net profit increased 8.4% QoQ to ₹4,591 Crore, just below the street estimates of ₹4,625 Crore. Revenue in rupee terms climbed 3.6% QoQ to ₹29,890 Crore, falling short of the estimate of ₹30,030 Crore.
In dollar terms, revenue increased 2.6% sequentially to $3,533 million, slightly less than the poll prediction of $3,554 Million. Constant currency revenue growth in the quarter was 3.8%, falling short of the targeted 4-4.2% range.
The company’s total contract value (TCV) for the quarter was $2,095 Million, indicating a robust deal pipeline. The firm declared an interim dividend of ₹18 per share, including a special dividend of ₹6 per share, to honor its 25-year public listing. The record date is set for January 17, and payment is slated for January 24.
HCLTech has raised its revenue growth target in constant currency (CC) terms for the whole fiscal year FY25 by 100 basis points at the lower end. Revenue growth is now expected to range between 4.5 and 5%. The company has maintained its EBIT margin guidance at 18-19% for the whole year.
Attrition rates continued to fall, with the previous 12-month (LTM) result lowering to 13.2%, indicating increased staff retention.
While the products and platforms business experienced the usual seasonal strength, IT services growth was aided by the HPE CTG integration, which was completed in early December.
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