HCL Tech Q3 Results: Net Profit Rises 13.5%, Interim Dividend Declared

HCL Tech, one of the leading IT services companies in India, has reported an impressive growth in its net profit for the third quarter of the current financial year. The company’s net profit rose by 13.5% sequentially to INR 4,350 crore during the period of October to December. This strong performance has led the Board of Directors to declare an interim dividend of INR 12 per equity share for the financial year 2023-24.

The record date for the payment of the interim dividend has been set as January 20, 2024, and the final payment will be made on January 31, 2024. This dividend announcement comes as a result of HCL Tech’s consistent financial growth and commitment to rewarding its shareholders.

The interim dividend declaration is a reflection of HCL Tech’s solid financial results for the third quarter. The company’s net profit attributable to shareholders reached INR 4,350 crore, surpassing market expectations. This marks a substantial 13.5% increase from the previous quarter’s net profit of INR 3,832 crore. HCL Tech’s consolidated revenue from operations also showed a robust growth of 6.5% year-on-year, reaching INR 26,700 crore in Q3FY23.

In terms of Constant Currency, HCL Tech’s revenue exhibited a 6% sequential increase and a 4.3% annual increase, amounting to $3,415 million. The company also experienced a significant improvement in its operating margin, which increased by 140 basis points to INR 5,615 crore, marking a 19.8% surge compared to the previous quarter. HCL Tech’s net income witnessed a strong growth of 13.8% quarter-on-quarter and 7.4% year-on-year, reaching INR 4,350 crore.

HCL Tech’s outstanding performance in the third quarter has solidified its position as one of the leading IT services companies in India. The company’s dedication to delivering exceptional results and its commitment to rewarding its shareholders through the declaration of an interim dividend demonstrates its strong financial standing and growth potential in the industry.

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