HCL Applied sciences on Friday reported a 6.2 per cent improve in consolidated web revenue at Rs 4,350 crore, highest ever on a quarterly foundation, within the three months ended December 2023 on the again of progress in each providers and software program companies. The corporate had posted a consolidated web revenue of Rs 4,096 crore in the identical interval a 12 months in the past, HCL Tech stated in a regulatory submitting.
The consolidated income of HCL Tech grew 6.5 per cent to Rs 28,446 crore in the course of the reported quarter from Rs 26,700 crore within the year-ago interval.
“Our outcomes this quarter have been remarkably sturdy with a income progress of 6 per cent on Quarter-on-Quarter in fixed foreign money pushed by sturdy momentum in each providers and software program companies.
We delivered a stellar working margin of 19.8 per cent, a 126 bps enchancment Q-o-Q and 16 bps enchancment Yr-on-Yr,” HCL Tech CEO and Managing Director C Vijayakumar advised reporters.
The providers income of HCL Tech crossed Rs 1 lakh crore on run fee foundation in the course of the quarter beneath evaluation.
“HCL Tech delivered a stellar quarter with sequential progress pushed by HCL Software program, a spurt within the telecom vertical and engineering and R&D phase.
“Our providers income has crossed a major milestone of USD 12 billion (Rs 1 lakh crore) on a run fee foundation. We additionally delivered the best ever EBIT of Rs 5615 crore, up 7.4 per cent Y-o-Y) and web revenue of Rs 4,350 crore (up 6.2 per cent Y-o-Y) this quarter,” HCL Tech Chief Monetary Officer Prateek Aggarwal stated.
The worker depend on the firm elevated 1.11 per cent to 2,24,756, with an addition of three,818 freshers, within the newest December quarter in comparison with 2,22,270 within the year-ago interval.
HCL Tech reported the bottom ever attrition within the final seven years at 12.8 per cent.
The corporate has projected a income progress within the vary of 5 to five.5 per cent within the present fiscal on a year-on-year foundation.
“We regarded on the efficiency this quarter. We take a look at what is feasible within the subsequent quarter. That could be a seasonally weak quarter for the software program enterprise providers enterprise. We are going to nonetheless proceed to develop inside 5 to six per cent type of a variety. Given we’ve just one quarter, we needed to type of slender the vary. So we’ve completed it 5 to five.5 per cent,” Vijayakumar stated.
He stated there was in not a lot change within the macroeconomic atmosphere however the firm is constructive on spending in engineering outsourcing and product improvement contracts.
“If you happen to take a look at the broader IT spent, I feel discretionary spending has actually not picked up. It stays at related ranges like what we noticed within the earlier quarter.
“Having stated that, there are all the time some vivid spots the place the spend is resilient. Like cyber safety is an space, SAP migration is an space. Now lots of prospects are embarking on Gen AI programmes, but it surely additionally means they should considerably remodel and evolve their knowledge landscapes. That’s once more an enormous alternative space,” Vijayakumar stated.
Based on him, the most important alternative continues to ship hyper automation, effectivity, productiveness advantages to shoppers which is continuous to play out in vendor consolidation.