HCL Tech Q1 resultsNet profit rises 20% YoY to Rs 4,257 crore, revenue grows 7%

HCL Technologies on Friday reported a 20% year-on-year dive in net earnings for the June quarter to Rs 4,257 crore. Its net earnings in the very same quarter in 2015 was Rs 3,534 crore.

The earnings from operations increased by 7% compared to the previous year, reaching Rs 28,057 crore.

The board has actually revealed an interim dividend of Rs 12 per share for the fiscal year 2024-25.

“The Board of Directors has actually stated an Interim Dividend of Rs. 12/- per equity share of Rs. 2/- each of the Company for the Financial Year 2024-25,” stated the exchange filing.

The business has actually set July 23 as the record date for this interim dividend, which will be paid on August 1.

Net revenue increased by 7% from Rs 3,986 crore in the December quarter. Incomes fell by 1.5% compared to the previous quarter.

In continuous currency terms, profits for the quarter increased by 6% year-on-year however reduced by 1.6% quarter-on-quarter.

In dollar terms, profits grew by 5% year-on-year. The IT services business reported an EBIT of Rs 4,795 crore for the April-June 2024 duration, a 7% boost year-on-year however a 4% decline quarter-on-quarter.

EBIT margins a little enhanced to 17.1% in the very first quarter, up from 17% in the very same quarter in 2015. For FY25, the business prepares for income development in between 3-5% year-on-year in continuous currency terms, with services income development likewise anticipated in the 3-5% variety.

HCL Tech has actually likewise anticipated an EBIT margin of 18-19% for FY25.

“We are happy to report another quarter of market leading efficiency with 6% year-on-year income development on consistent currency basis. Our Q1 Revenue and EBIT efficiency was somewhat much better than our expectations,” stated C Vijayakumar CEO and MD, HCL Tech.

The business has actually protected (TCV) brand-new offer wins amounting to $1.96 billion in the very first quarter.

“We are positive of good development in the coming quarters, placing us well to provide our earnings assistance for the year as customers continue to invest in GenAI and other emerging innovations,” Vijaykumar included.