Ahead of HCL Tech Q4 results, here’s a look at past quarterly results in FY24
Upstox
2 min read • Updated: April 26, 2024, 5:14 PM
Summary
As anticipation builds for HCL Tech’s Q4 results, here is an analysis of the company’s financial performance over the past three quarters of FY24.
The investors and market experts are eagerly awaiting the release of HCL Technologies’ quarterly results for the 4th quarter of the financial year 2023-2024. As one of the biggest Indian IT service providers, HCL Tech’s results are awaited as it may give an indication for the tech sector’s performance and expected trends in the coming months.
Ahead of the quarterly results, HCL Tech shares dropped as much as 2.6% during the intraday trade to a low of ₹1,464.95 apiece on the NSE. However, the IT stock recovered some losses and closed at ₹1,477 apiece, down 1.81%.
Let’s take a look at how HCL Tech has fared in numbers in the past three quarters so far in the financial year 2024:
Revenue
In terms of revenue, in the June 2023 quarter, it stood at ₹26,296 crore. The IT giant’s revenue increased to ₹26,672 crore in the September 2023 quarter. For the three-month period ending December 2023, HCL Tech generated revenue of ₹28,446 crore.
In the third quarter, the service segment of HCL Tech saw a year-on-year increase in revenue of 4.2% and a quarter-on-quarter growth of 3.1%. The HCL Software segment also witnessed a 32% growth in revenue in the 3rd quarter compared to Q2FY24.
Net Profit
HCL Tech’s net profit witnessed considerable growth during the last three quarters of the financial year 2024. From ₹3,534 crore in the June 2023 quarter, net income rose to ₹3,832 crore in the September quarter and reached ₹4,350 crore in the December quarter.
Now, with the Q4 quarterly results to be released on April 26, the market is expecting modest growth in revenue and net profit, although a decline in the high-margin products business is likely to impact HCL Tech’s fourth-quarter net profit.
Earnings Before Interest and Tax (EBIT)
In the June 2023 quarter, HCL Tech’s earnings before interest and tax stood at ₹4,460 crore. In the September quarter of FY24, the EBIT increased to ₹4,934 crore with a margin of 18.5%. At the end of the third quarter in December, the EBIT stood at ₹5,615 crore with an EBIT margin of 19.8%.