HCL Tech Q1 Results: Profit rises 8% YoY to Rs 3,534 crore, misses estimates

economictimes.indiatimes.com:

HCL Technologies reported a nearly 8% year-on-year (YoY) rise in consolidated net profit for the June quarter to Rs 3,534 crore. This is lower than the ET Now poll of Rs 3,792 crore. Consolidated revenue grew 12% YoY to Rs 26,296 crore, and was also a tad below the estimated Rs 26,810 crore.

The board has recommended an interim dividend of Rs 10 a share. The company has fixed the record date as July 20 for the dividend payment. Sequentially, the software services provider saw the topline fall 1.2%, and the bottom line by 11.3%.

The company retained its guidance of 6-8% constant currency revenue growth for FY24, and operating margin at 18-19%. In constant currency terms, revenue in the June quarter fell 1.3% sequentially, while it grew 6.3% YoY. The company bagged 18 large deals in the quarter, with total deal wins worth $1.6 billion.