HCLTech posted its earnings for the quarter ended June on Friday evening.
What Happened: The IT major’s net profit for the year came in at ₹4,257 crore, up around 20% from the ₹3,534 crore posted in the same quarter last year. The revenue for the quarter stood at ₹28,057 crore, up around 6% from the ₹26,296 crore posted in the same quarter last year.
On a sequential basis, the revenue was down around 1.6% from the ₹28,499 crore posted during the January-March quarter. The profit was up around 6.7% from the ₹3,986 crore posted in the March quarter.
The numbers also managed to exceed street expectations. Analysts estimated revenues to be at around ₹28,050 crore, and ₹3,830 crore in profit.
The company projects its revenue growth to be between 3.0% and 5.0% year-on-year in constant currency (CC) for the year ending March 2025. Services revenue is expected to grow at a similar rate, also between 3.0% and 5.0% YoY in CC. The company forecasts its EBIT margin to range between 18.0% and 19.0% for the fiscal year 2025.
The company also announced a ₹12 per share interim dividend. The record date for dividend payment is July 23.
Shares of the tech major had been upbeat after market leader TCS posted its June quarter results that beat expectations. The Tata Group company’s net profit for the June quarter came in at ₹12,040 crore, and a revenue of ₹62,613 crore.
Price Action: HCLTech’s share price was up 3.19% to close at ₹1,560.20 on Friday.
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