HCL Technologies, an IT company based in New Delhi, has reported a significant increase in its consolidated net profit for the third quarter ended December 31. Let’s delve into the key highlights of their performance.

Net Profit Growth

HCL Tech recorded a consolidated net profit of Rs 4,350 crore for the third quarter, marking a notable 6.2% rise compared to the same period last year. This figure represents the highest-ever quarterly net profit achieved by the company, as disclosed in a regulatory filing. In the corresponding quarter of the previous fiscal year, the company’s net profit stood at Rs 4,096 crore.

Revenue Expansion

During the reported quarter, HCL Tech witnessed a growth of 6.5% in consolidated revenue, reaching Rs 28,446 crore compared to Rs 26,700 crore in the corresponding quarter of the previous year.

Services Revenue Milestone

The services revenue of HCL Tech achieved a significant milestone during the quarter by surpassing Rs 1 lakh crore on a run rate basis.

Workforce Expansion

The company experienced a slight increase in its employee count, which rose by 1.11% to reach 2,24,756 during the reported quarter. This expansion included the addition of 3,818 freshers to the workforce, compared to 2,22,270 employees in the December 2022 quarter.

Financial Outlook

Looking ahead, HCL Tech has provided revenue growth guidance for the financial year 2024 in the range of 5 to 5.5% on a year-on-year basis.

In summary, HCL Technologies’ third-quarter performance reflects steady growth in net profit, revenue, and workforce expansion, underscoring its resilience and ability to navigate the evolving dynamics of the IT industry.