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HCL Technologies Q4 Performance & Dividend Declaration Overview

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HCL Technologies recently announced its financial results for the fourth quarter of fiscal year 2023-24. The company reported a modest increase of 0.1% in its consolidated net profit, reaching Rs 3,986 crore compared to the same period last year. During the quarter, revenue from operations rose by 7.1% to Rs 28,499 crore, showcasing steady growth.

CEO & Managing Director of HCL Technologies, C Vijayakumar, highlighted the company’s strong performance and value creation for shareholders amid challenging times. He emphasized the growth in USD revenue, operational cash flow, and free cash flow metrics as key indicators of success.

The company’s EBIT margin saw a decline to 17.6% in the quarter, down from the previous quarter and the same period last year. Despite this, pre-tax profit rose by 3.8% compared to the previous year, standing at Rs 5,018 crore in the Q4FY24.

For the fiscal year 2024-25, HCL Tech’s board has declared an interim dividend of Rs 18 per equity share, marking the 85th consecutive quarter of dividend payout. The payment date for the interim dividend is scheduled for May 15, 2024.

Among notable announcements, HCL Technologies welcomed Lee Fang Chew as an Independent Director of the company, effective April 25. Additionally, Roshni Nadar Malhotra, Chairperson of HCL Tech, reiterated the company’s commitment to sustainable business practices and community initiatives.

Rachel Adams

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