HCL Technologies Q4 earnings: Net profit rises to Rs 3,995 crore, board announces dividend

HCL Technologies reported a net profit of Rs 3995 crore for the March 2024 quarter against Rs 3981 crore in the March 2023 quarter. Net profit stood at Rs 4351 crore in the December 2023 quarter. The board declared an interim dividend of Rs 18 per share equity share of Rs 2/- each of the company for the financial year 2024-25. The payment date of the said interim dividend shall be May 15, 2024.

Revenue from operations rose 7% to Rs 28,499 crore in Q4 against Rs 26,606 crore in the March 2023 quarter. Earnings per share of the IT firm climbed to Rs 14.72 in Q4 against Rs 14.71 in Q4 of FY23. EBIT margin rose to 18.1% in Q4 compared to 17.6% in the March 2023 quarter, rising 48 bps during the period. 

Profit before tax rose to Rs 5269 crore in the last quarter against Rs 5195 crore in Q4 of FY23. 

The results were announced after market hours. The stock ended 2.08% lower at Rs 1472.30 on BSE. 

On an annual basis, revenue from operations rose 8.33% to Rs 109913 crore in FY24 against Rs 101456 crore in FY23. Net profit climbed 6% to Rs 15,710 crore in the last fiscal against Rs 14,845 crore in FY23. Earnings per share of HCL Tech rose to Rs 57.99 in FY24 against Rs 54.85 in FY23.

C Vijayakumar, CEO & Managing Director, HCLTech said, "HCL Tech continues to lead the industry in FY24 with good USD revenue growth of 5.4% YoY during challenging times through our strong commitment to our clients and our people. More importantly, we have translated this growth into even higher value creation for our shareholders with our OCF coming at US$ 2,711 mn, up 21.6% YoY and FCF at US$ 2,584 Mn, up 27.7% YoY. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalize with our AI led propositions, Global delivery model and ideal mix of technology services and products."