business

HCL Q1 profit soars 20.45% to ₹4,257 crore

On Jul 13, 2024 By The Hindu Bureau

HCL Technologies’ net profit rose 20.45% to ₹4,257 crore from ₹3,534 crore a year earlier, while revenue from operations increased 6.69% to ₹28,057 crore for the first quarter of FY25, the Noida-based tech firm reported on Friday.

Revenue from operations grew 6.69% to ₹28,057 crore as against ₹26,296 crore in the corresponding quarter a year earlier.

CEO & Managing Director C. Vijayakumar said the company reported another quarter of industry-leading performance with 5.6 % YoY revenue growth on a constant currency basis.

Q1 revenue and EBIT performance were slightly better than expectations and the firm clocked in $2 billion total contract value (TCV) of new business bookings, he said.

‘’We are confident of decent growth in the coming quarters, positioning us well to deliver our revenue guidance for the year as clients continue to spend on GenAI and other emerging technologies,’‘ Mr. Vijayakumar added.

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