HCLTech reported its earnings for the quarter that ended September on Monday evening after market close.
What Happened: The IT major's consolidated net profit for the September quarter came in at ₹4,235 crore, a 10.5% jump from the ₹3,832 crore posted in the same quarter last year.
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Revenue from operations for the quarter under review stood at ₹28,862 crore, an increase of around 8.2% from the ₹26,672 crore posted in the corresponding quarter of the previous year. Analysts expected the IT major’s revenue to come in at ₹28,590 crore with a net profit of around ₹4,045 crore.
IT and Business Services revenue for the September quarter stood at ₹21,544 crore, an 8.2% increase from the previous year’s numbers. The company’s EBIT for the quarter stood at ₹5,362 crore, an increase of 11.8% quarter-on-quarter and 8.7% year-on-year. EBIT margin stood at 18.6%.
The Board of Directors has declared an interim dividend of ₹12 per equity share. The record date of October 22, 2024, is fixed for the payment of the aforesaid interim dividend. The payment date of the interim dividend shall be October 30, 2024.
Price Action: HCLTech’s share price was up 0.88% to close at ₹1,855.90 on Monday.
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