Nadar family-led HCL Technologies on Thursday declared its consolidated results for the quarter and year ended March 31, 2023. Its shares closed at ₹ 1037.00 apiece and it has a market capitalization of ₹ 2,81,212 crores.
Quarterly Result
The IT major reported a net profit of ₹ 3,981 crores for the quarter that ended on March 31, 2023, up 10.61% against ₹ 3,599 crores reported in the corresponding quarter of the previous year. However, its profit declined sequentially, by about 3 per cent from ₹ 4,096 crore — its highest-ever profit in any quarter.
Its revenue grew by 17.74% to ₹ 26,606 crores, compared to ₹ 22,597 crores reported in the corresponding quarter last year. However, it marginally declined as compared to ₹ 26,700 crores reported in the September quarter of 2022.
Annual Result
HCL reported a net profit of ₹14,845 crores in FY 2022-23, an increase of 9.78% compared to ₹ 13,523 crores in FY 2021-22. The company’s revenue increased by 18.45% to ₹ 101,456.00 in FY 2022-23 from ₹ 85,651.00 crores in FY 2021-22.
The company’s revenue crossed the milestone of ₹ 1,00,000 crores. In constant currency terms, its revenue is up 13.7%. HCL Technologies won 57 large deals during the year — 32 in services and 25 in software.
Dividend
The board of HCL Technologies has declared an interim dividend of ₹ 18 per equity share. The record date is fixed as April 28, 2023, and the payment of the said interim dividend shall be May 9, 2023.
Revenue Guidance
HCL Technologies expects its revenue growth to be between 6.0% to 8.0% year on year in constant currency terms. Its services revenue is expected to grow between 6.5% to 8.5% and its EBIT margin is expected to be between 18.0% to 19.0%.
Written by Simran Bafna
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