HCLTech profit falls 8.4% to Rs 3,986 crore
27-Apr-2024
HCL Technologies on Friday posted an 8.4% drop in consolidated net profit at Rs 3,986 crore in the fourth quarter ended March. This was much below the Street estimates of Rs 4,123 crore.
The country’s third-largest IT services firm had posted a net profit of Rs 4,350 crore for the quarter ended December.
On a year-on-year basis, the company’s net profit was flat. It had recorded Rs 3,983-crore profit during the year-ago period.
For FY25, the company expects revenue growth (on a constant currency basis) of about 3-5%, with services revenue rising by 3-5% and Ebit margin of 18-19% on a y-o-y basis, CEO and MD C Vijayakumar said in a post-earnings call.
News Source:- https://www.financialexpress.com/business/industry-hcltech-profit-falls-8-4-to-rs-3986-crore-3469769/
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