On July 12, HCL Technologies (HCLTech) reported a 20% increase in its consolidated net profit for Q1FY25, reaching Rs 4,257 crore compared to Rs 3,534 crore in the previous year. The Noida-based IT services firm also saw a 6.7% rise in revenue from operations, reaching Rs 28,057 crore in Q1FY25 from Rs 26,296 crore in Q1FY24.
HCLTech declared an interim dividend of Rs 12 per equity share for FY25, with a record date of July 23, 2024, and payment scheduled for August 1, 2024. The company’s shares closed trading 3.3% higher at Rs 1,561.75 apiece on the same day.
The firm retained its constant currency revenue growth guidance of 3-5% for FY25, consistent with its FY24 guidance of 5-5.5%. Operating margins guidance was also maintained at 18-19% for FY25.
HCLTech reported $2 billion in total contract value (TCV) of new business bookings for Q1 and highlighted its strategic focus on GenAI and emerging technologies. The company’s workforce decreased by 8,080 employees in Q1 due to divestiture, bringing the total headcount to 2.19 lakh. The attrition rate for the last twelve months stood at 12.8%, down from 16.3% in the previous year.
Company executives expressed confidence in achieving growth in subsequent quarters, driven by ongoing client investments in advanced technologies.
