HCLTech Reports 5.5% Yearly Increase in Net Income at ₹4,591 Crore for Q3
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Mumbai, Jan 13 (NationPress) The global technology firm HCLTech revealed a 5.5% growth in net income year-over-year, amounting to ₹4,591 crore for the third quarter of FY25. This growth in revenue also saw a rise of 5.1%, reaching ₹29,890 crore annually.
The EBIT margin improved to 19.5% in Q3, an increase from 18.58% in Q2 FY25, surpassing analysts’ expectations of 19.3%.
During the third quarter, the company expanded its workforce by adding 2,134 employees, leading to a total of 220,755 employees. The attrition rate rose to 13.2%, compared to 12.8% in the same quarter last year.
CEO and Managing Director C Vijayakumar stated, “HCLTech has achieved another quarter of strong growth with a 3.8% quarter-on-quarter increase in constant currency and an EBIT of 19.5%. I am delighted that this growth is driven by a broad performance across various business lines as our clients from different sectors and regions continue to trust our digital and AI services.”
The company secured a substantial $2.1 billion in new deal bookings during the quarter, demonstrating success across both services and software.
Vijayakumar added, “We are preparing for a transformative future where AI empowers both businesses and employees. The demand for our AI-driven solutions in services and software is on the rise.”
This notable topline growth, coupled with robust margins, resulted in the highest EBIT of ₹5,821 crore and a net profit of ₹4,591 crore for this quarter.
Shiv Walia, Chief Financial Officer of HCLTech, commented, “The cash conversion on a last twelve months basis continues to exceed our five-year FCF/NI average of 126%, with a 134% FCF/NI this quarter. This success has further bolstered our balance sheet, culminating in our highest ever cash balance of ₹27,707 crore at the quarter's end.”
Analysts indicate that the performance in Q3 and updated guidance suggest that the company is well-positioned to achieve industry-leading growth among tier 1 IT firms for FY25.
