Jan 13: HCL Technologies, one of India’s leading IT services companies, has reported a strong performance in the third quarter of the financial year 2023-24. The company posted a net profit of Rs.4,350 crores, up by 13.5% year-on-year and 9.6% quarter-on-quarter. The revenue from operations grew by 15.5% year-on-year and 6.4% quarter-on-quarter to Rs.22,997 crores.
The company attributed its robust performance to the growth across all its business segments and geographies, especially in the digital and cloud domains. The company also witnessed a healthy deal pipeline and client additions in the quarter. HCL Tech signed 22 transformational deals in Q3, spanning across industry verticals such as financial services, life sciences and healthcare, manufacturing, public services, and retail and consumer goods.
The company also announced an interim dividend of Rs.6 per share, which is a 50% increase from the previous quarter. The company also increased its revenue growth guidance for the full year to 16.5-17%, up from 14-16% earlier.
HCL Tech’s Q3 performance reflects its resilience and agility in the face of the challenges posed by the COVID-19 pandemic and the dynamic market conditions. The company has demonstrated its ability to deliver value to its clients, employees, and shareholders through innovative solutions and services.
Conclusion
HCL Tech has emerged as one of the best-performing IT companies in India, with a consistent growth in revenue and profit. The company has leveraged its digital and cloud technologies strengths to offer cutting-edge solutions to its clients across various domains and regions. The company has also invested in enhancing its capabilities and talent pool to meet the evolving needs of the market. HCL Tech is well-positioned to capitalize on the opportunities in the post-pandemic era and achieve its vision of becoming a global technology leader.
By
Sujata Muguda
Shreyas WebMedia Solutions