HCL Tech clocks 10% y-o-y growth in Q2 net profit at Rs 3,832 crore

13 Oct 2023 , 08:59 AM

HCL Technologies announced a 10% increase in its consolidated net profit for the quarter ended September 30 to Rs 3,832 crore. In the same quarter of the previous year, the figure was Rs 3,489 crore.

Revenue from operations increased by 8% to Rs 26,672 crore during the period, compared to Rs 24,686 crore in the same month last year.

Furthermore, for the fiscal year 2023-24, the board has declared an interim dividend of Rs 12 per equity share. The record date has been set for October 20, and the payment will be made on October 31.

Revenue increased 1% sequentially and 3% year-on-year in constant currency terms. Services revenue increased by 3% (CC), while digital revenue increased by 4%.

In the second quarter, the company reported an EBIT of Rs 4,934 crore, up 11% year-on-year.

HCL Tech scored 16 significant transactions in the second quarter, including 10 in services and 6 in software, spanning a variety of industries including life sciences, healthcare, public services, and others. In the reporting quarter, the value of new deal wins (TCV) was $3.9 billion.

HCL Tech expects its EBIT margin in fiscal 2024 to be between 18 and 19%.

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