BackHCL Tech gives FY24 guidance, expects CC revenue growth between 6-8%, EBIT margins seen at 18-19%
HCL Tech reported a 10.85 per cent rise in its net profit in the fourth quarter of FY23. The IT giant posted a consolidated net profit of ₹3,983 crore compared to a profit of ₹3,953 crore in the same quarter a year ago
PremiumLooking at the healthy growth in its net profit in the quarter under review, and healthy FY23 performance, HCL Tech is aiming to boost its revenue by 6-8 per cent on a year-on-year basis in CC in FY24. The IT major expects its services revenue growth to fall between 6.5-8.5 per cent in the current financial year.
HCL Tech's EBIT margins will remain between 18-19 per cent. The company reported an 8 per cent YoY decline in its new deal wins which stood at a total contract value (TCV) of $2.07 billion.
Talking about its profit and revenue generation during the quarter under review, HCL Tech posted a consolidated net profit of ₹3,983 crore compared to a profit of ₹3,953 crore in Q4FY22. Its profit rose by 10.85% YoY. The company also declared an interim dividend of Rs18 per share.
"HCL Tech has delivered another year of robust growth. We continue to supercharge progress for our clients, people, communities, and the planet through our unique culture of innovation and entrepreneurship. With our differentiated portfolio of services, we are well-positioned to leverage opportunities that emerge from adoption of technology by business and people," said Roshni Nadar Malhotra, Chairperson of HCL Tech in a statement.
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