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HCLTech Q1 net up 20%, FY25 guidance at 3-5%
Business Standard
|July 13, 2024
Revenue for the first quarter grew 6.7% to hit ₹28,057 crore
HCLTech, India's third-largest information-technology services company, has maintained its FY25 revenue growth guidance in the range of 3-5 per cent.
Noida-headquartered HCLTech's net profits for the first quarter of FY25 came in at 4,257 crore.
Profits were up 20.4 per cent year-on-year (Y-o-Y), and grew 6.8 per cent sequentially.
Revenue for the quarter grew 6.7 per cent Y-o-Y at €28,057 crore. On a sequential basis, revenue growth was down 1.6 per cent.
HCLTech's Q1 revenue performance marginally beat Bloomberg estimates and profits were ahead of them. Bloomberg had estimated revenue to be ₹28,024 crore and net profits 3,845 crore.
Total contract value (TCV) for the first quarter came in at $1.96 billion.
It was up 25 per cent Y-o-Y.
In Q1 FY24 the company signed TCVs worth $1.56 billion. However, compared to the fourth quarter TCV was down 14 per cent. TCV in Q4 FY24 was at $2.29 billion.
This story is from the July 13, 2024 edition of Business Standard.
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