HCLTech Q1 Profit Surges 20.4%, Revenue Guidance 3-5% - Tech News

New Delhi, Jul 12 (PTI) IT services company HCL Technologies on Friday reported a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June quarter and gave a revenue growth guidance of 3-5 per cent for FY25.

HCL's top brass exuded confidence in attaining "decent growth in the coming quarters", which would position the company to deliver on the revenue guidance for the year.

For fiscal's first quarter ended June 2024 (Q1FY25), the revenue came in at Rs 28,057 crore, 6.6 per cent more than in the year-ago period. Seen sequentially, it was 1.6 per cent lower than the March quarter.

HCL Technologies (HCLTech) expected revenue growth for the full FY25 to be about 3-5 per cent, according to a company statement.

Roshni Nadar Malhotra, Chairperson of HCLTech, said that with the future-ready portfolio, the company is well-placed to tap emerging opportunities led by GenAI.

"We remain committed to doing business sustainably and responsibly as we continue to supercharge progress for our clients," she said.

HCLTech CEO C Vijayakumar said the Q1 revenue and EBIT performance was "slightly better than our expectations".

The company clocked USD 2 billion in total contract value (TCV) of new business bookings.

"We are confident of decent growth in the coming quarters, positioning us well to deliver our revenue guidance for the year as clients continue to spend on GenAI and other emerging technologies," he said.

The board has declared an interim dividend of Rs 12 per equity share of Rs 2 each for 2024-25.