Noida-based HCLTech on Thursday reported a consolidated net profit of ₹3,983 crore for the fourth quarter ended March 31, registering a growth of around 11 per cent year-on-year (y-o-y) compared with ₹3,593 crore posted in the year-ago period.
Consolidated revenue from operations rose 18 per cent y-o-y to ₹26,606 crore. The company said technology spent by its global customers are vital and they are expected to continue their investments in the current fiscal even though there are some uncertainties around the developed economies.
The board of the company also declared an interim dividend of ₹18 per equity share for FY24. “Record date of April 28 fixed for payment of aforesaid interim dividend has been confirmed by the board. The payment date of said interim dividend shall be May 9,” it said.
‘Well-positioned’
For the whole of FY23, the company recorded a consolidated net profit of ₹14,851 crore compared with ₹13,499 crore in FY22. Similarly, revenue from operations grew over 18 per cent and crossed ₹1-lakh crore during the year to ₹1,01,456 crore (₹85,651 crore).
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“HCLTech has delivered another year of robust growth. We continue to supercharge progress for our clients, people, communities and the planet through our unique culture of innovation and entrepreneurship. With our differentiated portfolio of services, we are well positioned to leverage opportunities that emerge from adoption of technology by businesses and people,” Roshni Nadar Malhotra, Chairperson, said.
FY24 guidance
On the guidance for the current fiscal, C Vijayakumar, MD & CEO, said the company is expected to grow in the 6-8 per cent range with an operating margin of 18-19 per cent range.
“Our pipeline is near an all-time high, which reflects our differentiated business mix and strong client demand for our offerings. We have added 3,674 employees this quarter and overall employee strength has grown beyond 2,25,000. All these set us well in FY24 for a healthy revenue growth in the 6-8 per cent range and operating margins in 18-19 per cent range,” Vijayakumar said.