HCLTech Q3 profit rises 5.5% to ₹4,591 cr, revenue up 5%

The firm's IT and business segment led with 71.8% of revenue, followed by engineering and R&D services during Oct-Dec

- PTI

HCLTech on Monday reported a 5.54% uptick in consolidated net profit to ₹4,591 crore for the December quarter as the chief executive officer expressed optimism for improvement in the demand environment and discretionary spending and raised the revenue growth guidance.

The Noida-headquartered firm had reported a profit of ₹4,350 crore in the year-ago period, according to a regulatory filing.

The company raised the lower end of its growth guidance to 4.5-5%, from 3.5-5% earlier.

Revenue from operations for the quarter under review came in at ₹29,890 crore, 5.07% higher than ₹28,446 crore in the third quarter of the current fiscal year.

Sequentially, profit and revenue rose 8.4% and 3.56%, respectively.

HCLTech chief executive officer and managing director C. Vijayakumar said the growth was powered by broad-based performance across business lines as the company's clients across verticals and geographies "reaffirm their confidence in our digital and AI offerings".