One of India's largest IT Services providers HCL Technologies has reported a consolidated net profit of Rs. 3983 crores for the 4th quarter that ended March. It is an increase of 11% from Rs. 3593 crores in the same period last year.
HCL Tech Q4 2023 Results -
The company reported an 18 % rise in revenue from operations at Rs. 26606 crores, compared with Rs. 22597 crores in the same period last year.
The board of directors at HCL Tech announced an interim dividend of Rs. 18 per equity share for FY2023-24.
On a sequential basis, net profit fell 3 % from Rs. 4096 crores reported in the 3rd quarter that ended December.
The company added over 3000 employees to the total headcount in the reporting quarter. Its total workforce stood at 225944 as on March 31, 2023.
The attrition rate on an LTM basis continued to trend down and was at 19.5 %, compared to 21.7 % in the previous quarter.
"Our pipeline is near an all-time high, which reflects our differentiated business mix and strong client demand for our offerings. We have added 3674 employees this quarter, and overall employee strength has grown beyond 225000. All these set us well in the financial year 2024 for a healthy revenue growth in the 6-8 percent range with operating margins in the 18-19 percent range," said C Vijay Kumar, CEO, and MD of HCL Technologies Ltd.
