Noida-based HCL Technologies (HCLTech) on Wednesday reported a consolidated net profit of ₹3,534 crore for the first quarter ended June 30, a year-on-year (YoY) growth of 7.64 per cent as compared with ₹3,283 crore in the same period last year.
Driven by new order wins, the company’s consolidated revenue also grew by 12 per cent YoY to ₹26,296 crore during the quarter under review, as against ₹23,464 crore in the corresponding quarter last year.
HCLTech said it won 18 large deals—seven in services and 11 in software—during the quarter. The company projected revenue growth of 6–8 per cent in constant currency terms and an earnings before interest and taxes (EBIT) margin of 18–19 per cent.
“HCLTech continues to be a partner of choice for global enterprises and is well placed to leverage opportunities in emerging areas such as artificial intelligence (AI) and allied technologies despite the challenging global macro environment,” Roshni Nadar Malhotra, Chairperson, HCLTech, said.
As of June 30, the company had a headcount of 2,23,438 employees. It had a net addition of 2,506 people during the quarter.
“We experienced double-digit YoY growth in our largest verticals—financial services, manufacturing, life sciences, and healthcare—fueled by large deals. These large deals helped offset cuts in client discretionary spending in these verticals. We are expecting other verticals to pick up as well shortly. This, combined with the strength of our record-high pipeline, enables us to maintain our guidance for the year,” C Vijayakumar, Chief Executive Officer and Managing Director, HCLTech, said.
Shares of HCLTech closed at ₹1106.50 apiece on the BSE on Wednesday, down 0.74 per cent from the previous close.
Published on July 12, 2023
