HCL Tech Q4 results: Tech giant announces interim dividend of ₹18/share for FY25; Details here

Tech giant HCL Technologies, on April 26, announced its fourth quarter results for FY24. The company further declared an interim dividend of ₹18 per share for FY25.

“The Board of Directors has declared an Interim Dividend of ₹18/- per equity share of ₹2/- each of the Company for the Financial Year 2024-25,” the company said in an exchange filing.

Also read: HCL Tech Q4 Results: Net profit up marginally to ₹3,986 crore, revenue rises 7% YoY; 5 key highlights

The company has set May 7, 2024 as the record date for the payment of the dividend. The payment date of the said interim dividend is May 15, 2024.

“The Record date of May 7, 2024 fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors. The payment date of the said interim dividend shall be May 15, 2024,” it added.

HCL Tech Q4 numbers

Tech giant posted a net profit of ₹3,986 crore for Q4FY24, marking a slight increase from ₹3,983 crore reported in the corresponding period last year. Additionally, the company recorded a 7.1 per cent rise in revenue, reaching ₹28,499 crore in Q4FY24 compared to ₹26,606 crore in the same period of the previous year, missing market estimates.

The post-tax profit experienced an 8 per cent decline quarter-on-quarter compared to the ₹4,351 crore recorded in the October-December period.

The total revenue from operations stood at ₹28,499 crore, marking a 5.3 per cent increase from ₹27,059 crore in Q4FY23.

Also read: HCL Tech Q4 results: Attrition rate drops to 12.4% as tech giant posts net profit of ₹3,986 crore

“HCLTech 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 $2,711 mn, up 21.6% YoY and FCF at $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," said C Vijayakumar, CEO & Managing Director, HCLTech.

In terms of constant currency (CC), revenue for the quarter showed a 0.3% increase quarter-over-quarter (QoQ) and a 6.0 per cent increase year-over-year (YoY). Meanwhile, the revenue in USD stood at $3,430 million, reflecting a 0.4 per cent QoQ increase and a 6 per cent YoY increase.

“HCLTech’s FY24 performance underlines the resilience of our business model with Revenue at ₹1,09,913 crore, growing 8.3%. We delivered this industry leading growth with EBIT at 20,027 Cr, up 8.4%. Net Income (NI) for the year came in at ₹15,702 crore, up 5.7%, translating to an EPS of ₹57.86. Our Board is pleased to declare ₹18 per share as the dividend for the quarter, bringing the total to ₹52 per share for FY24, which is 90% of the EPS. Our razor-sharp focus on cash generation resulted in OCF/NI coming at 143% and FCF/NI at 136%. We continue to expand ROIC, with the company’s ROIC up 341 bps YoY at 33.8% and Services’ ROIC up 430 bps YoY at 41.6%," said Prateek Aggarwal, Chief Financial Officer, HCLTech.