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HCL Tech Q3 Results Check Date

HCL Tech Q3 results

HCL Technologies Ltd on Friday reported 6.23 per cent rise in its third-quarter net profit, at Rs 4,351 crore, as against Rs 4,096 crore in the year-ago period. The Noida-based IT company’s total income surged to Rs 28,816 crore in Q3 FY24 from Rs 26,960 crore in the corresponding period last year.

HCL Tech Q3 results Updates

“The Board of Directors has declared an Interim Dividend of Rs.12/- per equity share of Rs.2/- each of the Company for the Financial Year 2023-24. The Record date of January 20, 2024, fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors. The payment date of the said interim dividend shall be January 31, 2024,” said the company in its stock filing.

Net Profit Growth:

HCL Tech posted a net profit growth, with a significant 13.5% surge to ₹4,350 crore in Q3 FY23, compared to the preceding quarter’s ₹3,832 crore. On a YoY basis, there was a 6.2% improvement, surpassing the net profit of ₹4,096 crore in the same quarter a year ago.

 

Wipro, on the other hand, reported a consolidated net profit of ₹2,694 crore in Q3 FY24, registering a modest 1% QoQ increase but posting a notable 12% decline on a YoY basis.

Client Metrics:

In the December quarter, the number of clients exceeding $100 million for Wipro rose to 22, compared to 19 in the same of previous quarter. However, on a QoQ basis, it remained flat. Additionally, deals valued above $75 million increased to 31 from 28 in Q3 FY23, representing a QoQ improvement of 3.

As of Q3FY24, the firm boasts an active client base of 1,349, with the top 10 clients contributing to 20.5% of the company’s revenue.

 

HCL witnessed a rise in the number of clients exceeding $100 million to 20 from 17 in Q3 FY23 on a YoY basis, although it remained flat on a sequential basis. For HCL Tech, the top 10 clients account for 17.7% of its revenue.

Revenue Growth:

The revenues of Wipro came in at ₹22,205 crore in Q3, indicating a 4.4% decrease compared to the revenue of ₹23,229 crore reported in the corresponding period last year. Sequentially, revenue also saw a 1.4% drop. In constant currency, revenue dropped by 1.7% QoQ and 6.9% YoY.

Contrastingly, HCL Tech reported consolidated revenue of ₹28,446 crore for the quarter ending in December, reflecting a 6.5% YoY growth. On a sequential basis, HCL observed a 6.7% increase in revenue. In constant currency terms, the revenue grew by 6% QoQ and 4.3% YoY.

 

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