HCL Technologies' consolidated net profit fell 0.52% to Rs 4,237 crore in Q2 FY25 as compared with Rs 4,259 crore in Q1 FY25.
Revenue from operations increased 2.87% YoY to Rs 28,862 crore during the quarter.On a year on year (YoY) basis, the companys net profit and revenue for Q2 FY25 are higher by 10.54% and 8.21%, respectively.
EBIT stood at 5,362 crore in Q2 FY25, up 11.8% QoQ and 8.7% YoY. EBIT margin was 18.6% for Q2 FY25 as compared with 17.1% in Q1 FY25 and 18.5% in Q2 FY24.
In dollar terms, the IT firm's revenue for the period under review was $3,445 million in Q2 FY25, down 1.6% QoQ and up 6.8% YoY. In constant currency (cc) terms in September24 quarter, revenue jumped 1.6% QoQ and 6.2% YoY.
Total contract value (TCV) of new deal wins was $2,218 million at the end of September 2024 quarter.
Total people count stood at 218,621 in Q2 FY25, down 0.36% QoQ and 1.14% YoY. LTM attrition rate was at 12.9% for Q2 FY25 as against 12.8% for Q1 FY25 and 14.2% for Q2 FY24.
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In FY25 guidance, the companys CC revenue growth expected to be between 3.5% -5.0% YoY. Services revenue growth expected to be between 3.5% - 5.0% YoY in CC. EBIT margin expected to be between 18.0% 19.0%.
The board of HCL Tech has declared an interim dividend of Rs 12 per equity share for the financial year 2024-25. The record date is fixed on 22 October 2024 and the dividend will be paid on 30 October 2024.
C Vijayakumar, CEO & managing director, HCL Tech, said, We delivered a strong quarter with revenue growing 1.6% QoQ in constant currency and EBIT coming in at 18.6%. This growth was well distributed across verticals, geographies, and offerings. HCL Software has delivered a stellar performance of 9.4% YoY this quarter and 6.4% growth in H1 FY25 in constant currency, demonstrating the increasing relevance of our products for the digital economy. Our pipeline is very strong, including Data & AI, Digital Engineering, SAP migration and efficiency led programs. Our GenAI offerings like AI Force and AI Foundry are resonating very well with our clients and should be drivers of efficiency, growth, and innovation over the medium term.
HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P).
The scrip advanced 0.89% to end at Rs 1,856 on Monday, 14 October 2024.
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