HCL reports 5.5% increase in Q3 net profit

HCLTech reports 5.5% rise in Q3 net profit to ₹4,591 crore, revenue grows 5.1% to ₹29,890 crore.

Tech firm HCLTech on Monday posted third-quarter net profit of ₹4,591 crore, a 5.5% rise over ₹4,350 crore in the corresponding period a year ago.

The quarter saw its revenue growing to ₹29,890 crore, 5.1% over last year’s revenue of ₹28,446 crore. Quarter on quarter, the IT firm’s profit and revenue grew 8.4% and 3.56%, respectively, it said.

C. Vijayakumar, CEO, and Managing Director, HCLTech, said the growth was powered by broad-based performance across business lines as clients across verticals and geographies reaffirmed their confidence in HCL’s Digital and AI offerings.

“I am pleased that our new deal bookings were healthy during the quarter at $2.1 billion with wins across services and software. We are positioning ourselves for a future that is transformative, with AI empowering businesses and employees. We continue to see growing demand for our AI led propositions across services and software offerings,” he added.

HCLTech’s razor sharp focus on achieving top-line growth with healthy margins was reflected in its highest ever EBIT of ₹5,821 crore and a net profit of ₹4,591 crore in Q3, Chief Financial Officer Shiv Walia said.

“Q3 EBIT margins came in at 19.5% (up 93 bps QoQ). Last 12 months return on invested capital continues its growth trajectory and stands at 36.6% for the company. All these have strengthened our balance sheet, helping us end the quarter with our highest ever balance of ₹27,707 crore,” he claimed.

On FY25 guidance, HCLTech said it was expecting a revenue growth in the 4.5% to 5.0% range year-on-year (in constant currency). As on December 31, 2024, the company had 220,755 employees and the quarter saw a net people addition of 2,134 of which 2,014 were freshers. The company also witnessed a slight increase in attrition at 13.25%, up from 12.8% in the same period last year.