HCLTech logs over 20 pc net income growth at Rs 4,257 crore in Q1 FY25

New Delhi, July 12 (SocialNews.XYZ) Global technology company HCLTech on Friday reported Rs 28,057 crore in revenue for the April-June quarter (Q1 FY25), down 1.6 per cent (on-quarter) but up 6.7 per cent (year-on-year), with net income at Rs 4,257 crore -- up 6.8 per cent (on-quarter) and 20.4 per cent (on-year).

HCLTech said it now employs 219,401 people (with a net addition of 8,080 in the first quarter of this fiscal).

The reduction in headcount due to divestiture was 7,398 and the company added 1,078 freshers in the period.

Attrition was 12.8 per cent, down from 16.3 per cent in Q1 of last year, said the company.

C. Vijayakumar, CEO and Managing Director, HCLTech, said they are pleased to report another quarter of industry-leading performance with 5.6 per cent YoY revenue growth on a constant currency basis.

"Our Q1 Revenue and EBIT performance was slightly better than our expectations. We clocked in $2 billion TCV of new business bookings," he said.

"We are confident of decent growth in the coming quarters, positioning us well to deliver our revenue guidance for the year as clients continue to spend on GenAI and other emerging technologies," Vijayakumar added.

HCLTech delivered a rupee revenue growth of 6.7 per cent YoY, healthy given the global environment.

"We delivered profit after tax (PAT) of Rs 4,257 crore for the quarter, which translates to YoY growth of 20.4 per cent. We remain committed to improving our capital efficiency," said Prateek Aggarwal, Chief Financial Officer, HCLTech.

In its FY25 guidance, the company said its revenue growth is expected to be between 3-5 per cent YoY and services revenue growth between 3-5 per cent YoY, with EBIT margin to be between 18-19 per cent.

Source: IANS