BENGALURU: HCLTech on Friday posted flat net profit at Rs 3,986 crore for the March quarter. Net profit in the year-ago period was Rs 3,983 crore. Revenue from operations for the quarter increased 7% to Rs 28,499 crore as against Rs 26,606 crore in Q4FY23.
Its company constant currency revenue growth expected to be between 3% and 5% YoY in FY25 and EBIT margin expected to be between 18% and 19%.
Addressing a media conference, C Vijayakumar, CEO & MD, HCLTech, said, “We continue to remain optimistic of the opportunities ahead of us. Some of the large deals we won will move into a global delivery model in FY25 which will reduce revenue.”
He added that the macro environment might be similar to FY24. “As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalise with our AI led propositions, Global delivery model and ideal mix of technology services and products,” he added.Its EBIT in Q4 stood at Rs 5,018 crore (17.6% of revenue), up 3.8% YoY and new deals wins at $2,290 million. HCLTech has won 21 new large deals.
Unlike its peers, the company has added 3,096 freshers in the quarter and in FY24, it has added 12,141 freshers. Its net addition in Q4 was 2,725. The IT company’s attrition in the quarter was 12.4%, down from 19.5% in Q4 of last year. Ramachandran Sundararajan, chief people officer, HCLTech, said fresher hiring in FY25 will be similar to FY24 and that they will visit campus this fiscal.