HCL Technologies Ltd Q3 Results FY2024, Net profit at Rs.4350 Crores

Shreya Anaokar 12th January 2024 - 06:57 pm

On 12th January 2023, HCL Technologies announced its quarterly results.

Key Highlights:

- The company reported revenue from operations at Rs. 28,446 crore, up by 6.5% YoY. Revenues in CC terms grew by 6% YoY and 4.3% QoQ
- EBIT for the quarter ended December 31, 2023 was Rs.5615 crores
- Profit after tax for the quarter ended December 31, 2023 was Rs.4350 crores.
- Large deal TCV for the quarter was $ 1927 million.
- Attrition at 12.8%.

Segment Highlights:

- Industry segment growth was led by Financial services which grew by 21.7%, Manufacturing which grew 20.1% and Life Sciences & Healthcare which grew 16.4%. Telecommunications, Media and Publishing Entertainment grew by 9.7%, Technology and Services grew by 12.8% and Public Services by 9.7% and Retai CPG grew by 9.6%
- Among major markets, America grew 64.5% and Europe grew 29%. Rest of the World grew 6.4%.

Key Deals Won:

- HCLTech was chosen by a US-based healthcare provider to provide many GenAI-based solutions for key use cases.
- HCLTech was chosen by a US-based financial services organization to provide a cutting-edge mobile payments solution powered by GenAI.
- A Fortune 100 financial services company selected HCLTech to transform its customer services.

Commenting on the results, C Vijayakumar, CEO and MD, HCL Tech said: “"Our results this quarter have been remarkably strong. We continue to invest in AI, specifically generative AI, as well as cloud-native capabilities across our products and services to address evolving clients."