HCL Tech Q4 net grows at tad to ₹3,986 crore
The Hindu
HCL Tech reports steady profit growth, optimistic outlook, strong deal wins, and focus on freshers hiring in FY25.
HCL Tech on Friday reported fourth-quarter net profit was almost unchanged at ₹3,986 crore against a net profit of ₹3,983 crore the tech firm reported for the year-earlier period. Revenue from operations rose 7% to ₹28,499 crore.
C. Vijayakumar, CEO & MD, HCLTech said, “We continue to remain optimistic of the opportunities ahead of us. Some of the large deals we won will move into a global delivery model in FY25 which will reduce revenue. The macro-environment, we are assuming, will be similar to FY24. We have a balanced portfolio which will deliver in any economic scenario.’‘
With $2.9 billion of new deal wins in Q4, HCL had a good quarter and the fiscal witnessed phenomenal growth in cloud migration and cybersecurity, he added.
According to Anil Ganjoo, Chief Growth Officer, Americas, HCLTech reported an industry-leading growth in telecom despite challenges in the sector. The technology, media and telecom sector reported highest ever performance in FY24, driven by the Verizon deal, he claimed. Last year, HCLTech signed a $2.1 billion deal with Verizon Business, the enterprise arm of US-based Verizon Communications, to provide primary managed network services (MNS). Financial services, being the top performing vertical this quarter grew 12.1% YoY, Ganjoo added.
HCL Tech was targeting to hire 15,000 freshers in FY’24 and the company hired over 12,000 freshers during the fiscal recalibrating the demand in tune with industry requirements, said Ramachandran Sundararajan, Chief People Officer.
Fresher hiring numbers in FY25 would be similar to FY24, indicated the company. ‘’We may follow broadly the same fresher hiring plan for FY’25 as well without any significant changes,’‘ he added.
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