HCL Tech Q4 Result: Net Profit Jumps 10.6% YoY To Rs 3,981 Crore; Rs 18 Interim Dividend Announced
HCL Tech Q4 Result: Net Profit Jumps 10.6% YoY To Rs 3,981 Crore; Rs 18 Interim Dividend Announced.
IT major HCL Technologies on Thursday reported a 10.61 per cent jump in its consolidated net profit to Rs 3,981 crore for the quarter ended March 2023, compared with Rs 3,599 crore a year ago. Its revenue from operations during January-March 2023 (Q4 FY23) jumped 17.74 per cent to Rs 26,606 crore, against Rs 22,597 crore in the year-ago period.
HCL Tech has also declared an interim dividend of Rs 18 per equity share for 2023-24. “The board of directors has declared an interim dividend of Rs 18 per equity share of Rs 2 each of the company for the financial year 2023-24.
The record date of April 28, 2023, fixed for the payment of the aforesaid interim dividend has been confirmed by the board of directors. The payment date of the said interim dividend shall be May 9, 2023,” according to a regulatory filing.
HCL Technologies’ profit, however, declined on a quarter-over-quarter basis by about 3 per cent from Rs 4,096 crore — its highest-ever profit in any quarter. However, sequentially, its revenue declined marginally from Rs 26,700 it reported in the third quarter.
HCL Tech also reported a net addition of 17,067 for the fiscal year 2023, a significant plunge of around 57.3 percent from the 39,900 employees added in FY22. Total fresher addition for FY23 came in at 26,734.
It added 3,674 employees in the fourth quarter ended March 31, 2022. The total headcount of the company at present stands at 225,944. This is higher than the previous quarter’s net addition of over 2,945 employees in Q3, but significantly lower than the 11,100 employees hired in the same quarter last fiscal.
Net employee addition for the full-year FY23 stood at 17,067 as compared to 39,900 in FY22.
The Q4 attrition rate for the quarter stood at 19.5 per cent on last twelve months (LTM) basis, decreasing significantly from 21.7 per cent in the previous quarter and 21.9 per cent in the same quarter last year.