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HCLTech has reported a 6.1% year-on-year rise in its net revenue to ₹30,246 crore for the January-March 2024 quarter, while its net income surged 8.1% on a YoY basis to ₹4,307 crore, according to the latest exchange filing by the IT services major.
The Noida-based IT major's constant currency revenue grew 2.9%, while USD revenue increased 2% YoY. Of the segments it operates, digital revenue grew the highest at 12.6%, while software revenue was recorded at 2.7% YoY in constant currency.
In profitability and return metrics, HCLTech saw EBIT growing 8.4% to ₹5,442 crore. The company declared a dividend of ₹18/- per share, the 89th consecutive quarter of dividend payout.
In terms of bookings, HCLTech says the total commercial value of new deal wins stood at $2.1 billion during the fourth quarter, HCL says.
As of March 31, 2024, the total people count at HCLTech stood at 2,23,420, with a net addition of 2,665 during the said quarter. Of this, the company added 1805 freshers, while its attrition based on LTM stood at 13%, down from 13.2% during the last quarter and up from 12.4% during the same period last year.
C Vijayakumar, CEO & Managing Director, HCLTech, says the IT major grew the "fastest" among its peers for the second year in a row as it witnessed yet another year of disciplined execution. "We delivered on our FY25 guidance with revenue growth of 4.7% in constant currency and EBIT margin of 18.3%. HCL Software growth continues to accelerate as it grew 3.5% CC this year. During this quarter, our services business delivered healthy growth of 0.7% QoQ CC amidst volatile market conditions."
He says the company saw strong new bookings of $3 billion during Q4 FY25, catalysed by its AI propositions and integrated GTM organisation that was set up at the start of the fiscal year. "The strength of our execution should present us with good medium-term opportunities emerging out of global uncertainties while we navigate the short-term cautiously."
Roshni Nadar Malhotra, Chairperson, HCLTech says the company delivered another year of robust growth, with its future-ready portfolio. "We also marked the 25th anniversary of HCLTech going public and achieved the distinction of delivering best-in-class TSR over the past decade. We remain committed to creating value for all our stakeholders."
For the full fiscal year, HCLTech's revenue grew 6.5% YoY to ₹117,055 crore, while its income stood at ₹17,390 crore, up 10.8%. The earnings per share (diluted) for FY25 stood at ₹64.09, up 10.8%, while the full year dividend came in at ₹60/- per share, with the payout ratio of 93.5%.
With the total people count of 2,23,420, the company cut the overall headcount by 4,061, while the reduction in headcount due to divestiture stood at 7,398. Overall, the company added 7,829 freshers in the fiscal year. Its attrition rate during FY25 surged to 13% from 12.4% in Q4 of the previous year.
In its FY26 guidance, HCLTech expects the revenue growth to be between 2.0%–5.0% YoY in CC, while services revenue growth is expected to be between 2.0%–5.0% YoY in CC. The EBIT margin is expected to be between 18%–19%.
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