Q4FY24 Quarterly & FY24 Annual Result Announced for HCL Technologies Ltd.
IT Consulting & Software company HCL Technologies announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue of Rs 28,499 Crore, up 0.2% QoQ & up 7.1% YoY. Constant Currency (CC) Revenue up 0.3% QoQ & up 6.0% YoY. USD Revenue of USD 3,430 Mn, up 0.4% QoQ & up 6.0% YoY. EBIT at Rs 5,018 Crore (17.6% of revenue), down 10.6% QoQ & up 3.8% YoY Net Income at Rs 3,986 Crore (14.0% of revenue), down 8.4% QoQ & up 0.1% YoY ROIC (on LTM basis) – Company at 33.8%, up 341 bps YoY; Services at 41.6%, up 430 bps YoY FY24 Financial Highlights: Revenue of Rs 1,09,913 Crore, up 8.3% Constant Currency (CC) Revenue up 5.0% USD Revenue of USD 13,270 Mn, up 5.4% EBIT at Rs 20,027 Crore (18.2% of revenue), up 8.4% Net Income at Rs 15,702 Crore (14.3% of revenue), up 5.7% EPS (Diluted) at Rs 57.86, up 5.6% ROIC – Company at 33.8%, up 341 bps; Services at 41.6%, up 430 bps C Vijayakumar, CEO & Managing Director, HCLTech said, "HCLTech continues to lead the industry in FY24 with good USD revenue growth of 5.4% YoY during challenging times through our strong commitment to our clients and our people. More importantly, we have translated this growth into even higher value creation for our shareholders with our OCF coming at USD 2,711 Mn, up 21.6% YoY and FCF at USD 2,584 Mn, up 27.7% YoY. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalize with our AI led propositions, Global delivery model and ideal mix of technology services and products.” Prateek Aggarwal, Chief Financial Officer, HCLTech said, "HCLTech’s FY24 performance underlines the resilience of our business model with Revenue at INR 109,913 Cr, growing 8.3%. We delivered this industry leading growth with EBIT at 20,027 Cr, up 8.4%. Net Income (NI) for the year came in at Rs 15,702 crores, up 5.7%, translating to an EPS of Rs 57.86. Our Board is pleased to declare Rs 18/share as the Dividend for the quarter, bringing the total to Rs 52/share for FY24, which is 90% of the EPS. Our razor-sharp focus on cash generation resulted in OCF/NI coming at 143% and FCF/NI at 136%. We continue to expand ROIC, with the Company’s ROIC up 341 bps YoY at 33.8% and Services’ ROIC up 430 bps YoY at 41.6%.” Result PDF26-04-2024