Jobaaj Stories
IT Services giant HCL Tech has announced its Q4 and FY23 results wherein the company has reported an 18% YoY growth in quarterly revenues while annual revenues surpassed the Rs 1 lakh crore mark during the year.
Quarterly revenues surged to Rs 27,059 crores, up 17.7% YoY as EBIT stood at Rs 4,836 crores (around 18% of revenues), growing 19% YoY. Profit for the quarter came in at Rs 3,983 crores, up 11% YoY but down 2.8% on a sequential basis.
For the period of 12 months ended in March 2023, the company’s revenues surged beyond the Rs 1 lakh crore milestone for the first time as the figure for the year was 102,814 crores, growing 18.5% YoY. Tech Services, which accounted for 89.5% of all revenues, grew 16% during the year while software services accounted for the balance, growing 2% annually.
Total annual expenses came in at Rs 83,326 crores where employee benefit expenses and outsourcing costs remained the highest expenses for the company. This results in a profit of Rs 14,845 crores, up 10%.
The company won 57 large deals during the year out of which 32 were for services while 25 were for Software. The company added 3 new $100+ million clients, 3 $50+ million clients, 21 new $10+ million clients and several clients of lower value during the year.
Shares of HCL Tech closed at Rs 1048.95 per share on Friday.
- Aman Agarwal
Also read, Reliance reports 14% YoY growth in profits
