HCLTech Q3 results: Net profit up 6% on YoY basis; Rs 12 per share dividend announced

HCL Technologies Ltd on Friday reported 6.23 per cent rise in its third-quarter net profit, at Rs 4,351 crore, as against Rs 4,096 crore in the year-ago period. The Noida-based IT company's total income surged to Rs 28,816 crore in Q3 FY24 from Rs 26,960 crore in the corresponding period last year.

The quarterly results were announced post-market hours. Shares of HCL Tech settled with 3.85 per cent gains at Rs 1,543 earlier in the day.

HCL Tech's board has declared an interim dividend of Rs 12 per equity share of Rs 2 each of the company for the financial year 2023-24 (FY24).

January 20 has been fixed as the record date for the payment of the aforesaid interim dividend and the payment date will be January 31.

On FY24 guidance, the company said its revenue growth could be between 5 per cent and 5.5 per cent on a year-on-year (YoY) basis.

The forecast includes the revenue flowing from the German engineering firm ASAP, which it acquired in July 2023 for $279 million.

"We delivered a stellar operating margin of 19.8 per cent, a 126 basis points (bps) improvement QoQ and 16 bps improvement YoY. We are quite excited about the strategic progress HCLSoftware has made over the last year," said C Vijayakumar, CEO and managing director at HCLTech.

During the third-quarter of the ongoing FY, the company mentioned that it has won 18 large deals - six in services and 12 in software.

The IT major also underscored that total headcount came at Rs 2,24,756 along with net addition of 3,617 employees. Attrition rate dropped by 12.8 per cent, lower than 21.7 per cent in Q3  last year.

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