HCLTech Q1 net up 20%, FY25 guidance at 3-5%

Revenue for the first quarter grew 6.7% to hit ₹28,057 crore

- ASHUTOSH MISHRA & SHIVANI SHINDE

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.