Global technology company HCLTech posted 5.5 per cent growth in year-on-year net income at Rs 4,591 crore for Q3 FY25, with revenue growing 5.1 per cent year-on-year to Rs 29,890 crore.
The EBIT margin increased to 19.5 per cent in Q3 from 18.58 in Q2 FY25, up 90 bps or beating analysts' estimates of 19.3 per cent.
The company added 2,134 employees in Q3 and now has a workforce of 220,755. The attrition rate was at 13.2 per cent, up from 12.8 per cent in Q3 of last year.
HCLTech delivers another quarter of solid growth at 3.8 per cent QoQ in constant currency and EBIT at 19.5 per cent. I am pleased that this growth is powered by broad-based performance across business lines as our clients across verticals and geos reaffirm their confidence in our digital and AI offerings," said C Vijayakumar, CEO and Managing Director, HCLTech.
The new deal bookings were healthy during the quarter at $2.1 billion with wins across services and software.
The company also announced dividend of Rs 18 per share, including special dividend of Rs 6 per share.
"We are positioning ourselves for a future that is transformative, with AI empowering businesses and employees. We continue to see growing demand for our AI led propositions across services and software offerings," said Vijayakumar.
The topline growth with healthy margins is reflected in the highest ever EBIT of Rs 5,821 crore and net profit of Rs 4,591 crore this quarter.
"Cash conversion (on LTM basis) continues to outpace our 5-year FCF/NI average of 126 per cent with FCF/NI of 134 per cent this quarter. This has further strengthened our balance sheet, helping us end the quarter with our highest ever cash balance of Rs 27,707 crore," said Shiv Walia, Chief Financial Officer, HCLTech.
Analysts noted that the Q3 performance and revised guidance reflect that the company is on track to deliver industry leading growth among tier 1 IT companies for FY25.
Read also| Page Industries Appoints Karthik Yathindra as CEO
Read also| India Cements Appoints New Leadership, UltraTech Names CEO & CFO for New Subsidiary