HCLTech's FY24 Net Income Rises by 5.7 Percent to Rs 15,702 Crore

By siliconindia  |  Saturday, 27 April 2024, 03:24:21 PM IST

HCLTech's FY24 Net Income Rises by 5.7 Percent to Rs 15,702 Crore
HCLTech, a global technology firm, disclosed its financial performance for FY24, revealing a revenue of Rs 109,913 crore, marking an 8.3% increase year-on-year (YoY). Net income also experienced growth, rising by 5.7% to reach Rs 15,702 crore.
In the fourth quarter of FY24 (Q4 FY24), the company reported a revenue of Rs 28,499 crore, reflecting a 7.1% YoY increase. However, net income for the quarter stood at Rs 3,986 crore, marking a decline of 8.4% from the previous quarter but a marginal 0.1% YoY increase. Over the last fiscal year, HCLTech's total headcount reached 227,481, with a net addition of 1,537 employees.
Roshni Nadar Malhotra, Chairperson of HCLTech, expressed satisfaction with the company's growth amidst global economic challenges. She emphasized HCLTech's commitment to sustainable and responsible business practices, especially as they expand their community initiatives beyond India. Regarding performance in the quarter ending March 31, HCLTech noted a 6.7% YoY increase in services revenue, primarily driven by growth in telecommunications, media, publishing, and entertainment sectors.
CEO and Managing Director, C. Vijayakumar, highlighted HCLTech's industry-leading position in FY24, achieving a commendable USD revenue growth of 5.4% YoY despite challenging conditions. He pointed out the anticipated growth in global enterprise technology spending, particularly with the adoption of AI. 
Vijayakumar expressed confidence in HCLTech's readiness to leverage AI-led offerings, a robust global delivery model, and a balanced portfolio of technology services and products to capitalize on this growth opportunity. Overall, HCLTech's financial results reflect steady growth, with a focus on sustainability, responsible business practices, and readiness to capitalize on emerging technological trends such as AI.
Source: IANS

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