'Will have 50K fully trained to leverage GenAl by FY25'
Business Standard|April 29, 2024
Among the large IT players, HCLTech's fourth quarter performance in FY24 has been industry leading. The firm's revenue guidance of 3-5 per cent growth for FY25, though soft compared to its FY24 figure, is still strong against Infosys' 1-3 per cent. C VIJAYAKUMAR, chief executive officer (CEO) and managing director (MD), HCLTech, in a video interview with Shivani Shinde and Ashutosh Mishra, says that its challenger position is working in favour of the firm. Edited excerpts:

Fourth quarter FY24 performance looks really soft. Could you just walk us through what happened during the quarter? Also, despite a strong total contract value (TCV), the guidance for FY25 is also on the softer side.

When we started FY24, there was cautious optimism around growth in line with the market momentum at that time. There were signals of reduced discretionary spends and slowdown in some key verticals. We as a company reacted to that with agility and flexibility. For FY24, our revenue growth was 8.3 per cent and our services business grew 5.4 per cent. These are industry leading. Our services performance in Q4 has been very strong and software has a seasonality issue, so that impacts the performance. For guidance, we've assumed a similar discretionary spend environment in FY25 as compared to FY24.

Do you see things improving during the next two-three quarters? What's the sense that you're getting from clients and customers?

In some verticals, we definitely feel confident that things will improve. But in others, I'm still assuming, at least in the next couple of quarters, things may not.

Diese Geschichte stammt aus der April 29, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der April 29, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BUSINESS STANDARDAlle anzeigen
Business Standard

Fix mismatches between Form 26AS and 16 before tax filing

The first step in filing your income-tax return (ITR) should be to review and compare Form 26AS with Form 16.

time-read
2 Minuten  |
May 28, 2024
Valuations may offset Divi's growth outlook
Business Standard

Valuations may offset Divi's growth outlook

Divi's Laboratories, the country's second-largest pharma company by market capitalisation, saw its stock rise 5.7 per cent to a two-year high of 4,359 on the BSE in Monday's intraday trade.

time-read
2 Minuten  |
May 28, 2024
Business Standard

Strong Q4 leads to upgrades for Hindalco

Industrial base metals major Hindalco delivered a strong consolidated performance during the January-March quarter (Q4) of FY24.

time-read
3 Minuten  |
May 28, 2024
Business Standard

Scorching summer brings earnings boost for Voltas to NTPC

A blistering summer gripping a significant portion of India is fueling optimism of higher earnings for one segment of the nation's $4.8 trillion stock market.

time-read
1 min  |
May 28, 2024
Business Standard

Mkts hit new highs but end lower; Vix up

The domestic markets hit new intraday highs on Monday but witnessed another turbulent trading session to end 0.8 per cent lower from the highest points.

time-read
1 min  |
May 28, 2024
ITC hotel demerger divides voting advisory firms
Business Standard

ITC hotel demerger divides voting advisory firms

liAS recommends 'against' vote; SES, InGovern suggest 'for'

time-read
3 Minuten  |
May 28, 2024
Business Standard

RBI move on partly paid AIF units puts industry in a bind

Move to help regularise units issued to FPIs amid concerns on fee outgo

time-read
2 Minuten  |
May 28, 2024
Business Standard

BSE to buy S&P's 50% in index JV

Domestic bourse BSE has approved the acquisition of 50 per cent stake in index provider Asia Index (AIPL) from equal joint venture partner S&P Dow Jones (SPDJ) Indices for 30 crore.

time-read
1 min  |
May 28, 2024
A battle for dominance in beauty mkt
Business Standard

A battle for dominance in beauty mkt

A wave of foreign beauty brands is making a splash in the Indian market.

time-read
3 Minuten  |
May 28, 2024
Hospital blaze ignites fire safety review in Delhi
Business Standard

Hospital blaze ignites fire safety review in Delhi

Investigation yet to pinpoint cause 48 hours on SANKET KOUL New Delhi, 27 May The investigation is still ongoing to ascertain what caused the fire that killed six newborns in East Delhi's Baby Care Newborn Hospital.

time-read
2 Minuten  |
May 28, 2024