BENGALURU: IT services giant HCLTech met Street expectations with a 5.5 per cent increase in its consolidated net profit, reaching Rs 4,591 crore for the quarter ended December 2024, compared to Rs 4,350 crore in the same period last year. The growth was primarily driven by a broad-based performance across business verticals.
The company’s revenue from operations stood at Rs 29,890 crore for the quarter, reflecting a 5.1 per cent year-on-year growth compared to Rs 28,446 crore in the same quarter last year. Its Q3 EBIT margins came in at 19.5 per cent.
HCLTech has declared a fourth interim dividend of Rs 18 per equity share for FY25, which includes a special dividend of Rs 6 per share to mark the 25th anniversary of the company’s public listing.
The company expects a revenue growth of 4.5 per cent to 5.0 per cent year-on-year for FY25, with EBIT margins forecasted to be between 18 per cent and 19 per cent.
During the post-earnings press conference, C Vijayakumar, CEO and MD of HCLTech, mentioned that the average duration of signed deals is getting shorter, meaning the tenure of deals is declining.
“The shift towards shorter tenure deals naturally leads to a moderated TCV (total contract value), but the more important metric is ACV (annual contract value), which is good,” he said.
