HCL Tech stock in focus after the Q3 results. Should you buy, sell or hold?
HCL Technologies shares will remain in focus on Tuesday, January 14, after the IT services company reported 6% growth in its consolidated net profit at Rs 4,591 crore for the quarter ended December 2024. The same stood at Rs 4,350 crore a year ago.
Revenue from operations in the third quarter rose 5% to Rs 29,890 crore, compared with Rs 28,446 crore in the same quarter of last year.
The company has reported an operating EBIT (earnings before interest and tax) of Rs 5,821 crore for the third quarter, which was up 4% YoY and nearly 9% QoQ (quarter-on-quarter).
In constant currency (CC) terms, revenue growth for the quarter stood at 4% YoY. Meanwhile, the USD revenues during the reporting period rose 3.5% YoY to $3.53 billion.
HCL Tech said the growth during the quarter is powered by broad-based performance across business lines. «Clients across verticals and reaffirmed their confidence in our digital and AI offerings. We are positioning ourselves for a future that is transformative, with AI empowering businesses and employees,» said C Vijayakumar, CEO and MD of HCL Tech.
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