New Delhi : In the July-September quarter of the current fiscal year, HCL Technologies, an IT services company, announced a 10.51 per cent increase in consolidated net profit to Rs 4,235 crore. In the previous year, it had announced a net profit of Rs 3,832 crore. Revenue for the current quarter was Rs 28,862 crore, showing an increase of 8.21 pc from Rs 26,672 crore in the same period last year. C Vijayakumar, CEO & Managing Director of HCLTech, mentioned that the company has a robust pipeline, which encompasses data & AI, digital engineering, SAP migration, and efficiency-focused initiatives.
Increased revenue has resulted in better profitability. In Q2, our EBIT margins increased to 18.6 per cent, a sequential improvement of 149 basis points. HCLTech CFO Shiv Walia stated that the company's ROIC is a strong 35.7 pc at the company level and 43.5 pc for services, showing growth of 353 bps YoY and 403 bps YoY respectively. HCLTech laid off 780 workers in the quarter, resulting in a total workforce of 2,18,621. The company based in Noida has provided an estimate of 3.5-5.0 per cent revenue growth year-on-year in constant currency. Vijayakumar added that our clients are responding very positively to GenAI products such as AI Force and AI Foundry, which are expected to boost efficiency, growth, and innovation in the medium term. He further mentioned that the company had a successful quarter, with revenue increasing by 1.6 pc compared to the previous quarter in constant currency.
This expansion was evenly spread out among different sectors, locations, and products. He stated that HCL Software has achieved a remarkable performance with a 9.4 pc YoY growth this quarter and a 6.4 pc growth in H1 FY25 in constant currency, showcasing the growing importance of our products in the digital economy. The board has announced a temporary dividend of Rs 12 for each equity share of Rs 2 for the fiscal year 2024-25
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