HCL Tech ups lower end of FY25 guidance, now sees sales growth at 4.5-5.0%
This story was originally published at 18:30 IST on 13 January 2025
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NEW DELHI – HCL Technologies Ltd. has raised the lower end of its revenue growth guidance for the financial year 2024-25 (Apr-Mar) to 4.5% from 3.5%, and now sees constant currency consolidated revenue increasing by 4.5-5.0% in the year. It has also raised the lower end of its FY25 services revenue growth guidance in constant currency terms to 4.5% from 3.5% and guided for 4.5-5.0% growth. The earnings before interest and tax margin has been kept unchanged at 18-19%.
This is the second consecutive quarter that the company has raised its revenue growth guidance in constant currency terms. Following its Jul-Sept earnings, HCL Technologies had raised the lower end of the guidance for constant currency revenue to 3.5% from 3%, and done the same for the services revenue guidance.
In Oct-Dec, the company's consolidated net profit rose 8.4% on quarter to INR 45.91 billion. Analysts had expected the bottom line to be INR 45.52 billion. The company reported a 3.8% sequential rise in constant currency consolidated revenue to $3.53 billion, while the consolidated revenue in Indian rupee terms was INR 298.90 billion, up 3.6% on quarter. The revenue was lower than the Street's estimate of INR 300.18 billion.
The December quarter growth "is powered by broad-based performance across business lines as our clients are across verticals", Managing Director and Chief Executive Officer C. Vijayakumar said in an investor release. "Our new deal bookings were healthy during the quarter at $2.1B ($2.1 billion) with wins across services and software."
On Friday, shares of HCL Technologies ended 0.3% lower at INR 1,989.40 on the National Stock Exchange. End
US$1 = INR 86.58
Reported by Rajesh Gajra
Edited by Rajeev Pai
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