HCLTech Q4 Results LIVE Updates: Net profit remains flat at ₹3,986 crore, revenue guidance revised lower to 3%-5% for FY25

HCLTech Q4 Results LIVE Update at 6:45 pm: HCLTech services revenue mix by geography

Geography-wise, revenue from the Americas region declined by 140 basis points to 63.8% on a yearly basis, while Eurozone revenue remained stable at 28.9%. Rest of the world saw a rise of 140 basis points to 7.3%.

HCL Q4FY24 results at glance

• Net profit for the quarter remains largely unchanged t ₹3,986 crore vs ₹3983 crore in previous year same quarter

• Total revenue for the company also remains largely flat sequentially ₹28,499 crore, while it increased by 7.1% YoY

• On the operational front, EBIT for the quarter declined 10.6% QoQ and rose by 3.8% YoY at ₹5,018 crore.

HCLTech Q4 Results LIVE Update at 6:30 pm: Sequential growth highlights

• Total revenue increased marginally by 0.2% QoQ
• EBIT for the quarter declined substantially by 10.6% QoQ, led by flat revenue and higher employee benefit expenses.
• Net profit for the quarter declined 14% QoQ

HCLTech Q4 Results LIVE Update at 6:20 pm: What management said after the Q4 result?

C Vijayakumar, CEO & Managing Director said HCLTech continues to lead the industry in FY24 with good USD revenue growth of 5.4% YoY during challenging times through our strong commitment to our clients and our people. More importantly, we have translated this growth into even higher value creation for our shareholders with our OCF coming at US$ 2,711 Mn, up 21.6% YoY and FCF at US$ 2,584 Mn, up 27.7% YoY. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalize with our AI led propositions, Global delivery model and ideal mix of technology services and products.”

HCLTech Q4 Results LIVE Update at 6:16 pm: FY25 Guidance

• Company constant currency (cc) revenue growth expected to be between 3.0% - 5.0% YoY Services constant currency (cc) revenue growth expected to be between 3.0% - 5.0% YoY

• EBIT margin expected to be between 18.0% - 19.0%

HCLTech Q4 Results LIVE Update at 6:16 pm: HCL Tech FY24 Highlights

• Revenue at ₹109,913 crore, up 8.3% YoY
• Net profit at ₹15,702 crore, up 5.7% YoY
• Full Year Dividend at ₹52 per share.
• Total contract value (TCV) at $9,759 million, up 10% YoY

HCLTech Q4 Results LIVE Update at 6:15 pm: New deal wins and total contract value

• During the quarter TCV (New Deal wins) for the company stood at US$ 2,290 Mn

• Comapny won 21 New Large deals - 13 in Services & 8 in Software

HCLTech Q4 Results LIVE Update at 6:10 pm: HCL Tech board declares ₹18 per share interim dividend for shareholders. The record date is 7 May 2024, while payment date for interim dividend is 15 May 2024

• Total revenue for the company also remains largely flat sequentially ₹28,499 crore, while it increased by 7.1% YoY.

• Constant currency growth increased by 6% YoY at $3,430 million for the Q4FY24.

• On the operational front, EBIT for the quarter declined 10.6% QoQ and rose by 3.8% YoY at ₹5,018 crore. The EBIT margins for the quarter also reported a contraction of more than 200 bps at 17.6% for Q4FY24 vs 19.8% in previous quarter ending December 2023.

HCLTech Q4 Results LIVE Update at 4:45 pm: Here's a look at the estimates

• The net profit is seen at ₹4,054.7 crore, which will mark a decline of 6.8% as compared to the preceding quarter, as per an average of estimates shared by seven brokerages.
• Year-on-year, the estimated net profit is higher by 1.9%.
• The revenue from operations is seen to be growing sequentially only by 0.37% at ₹28,552.6 crore.

HCLTech Q4 Results LIVE Update at 4:15 pm: What are the EBIT estimates?

The earnings before interest and taxes or EBIT is expected to comine in at ₹5,615 crore, lower by 7% as compared to the EBIT of ₹5,226 crore in Q3 FY24, CNBC TV-18 reported, citing its poll of analysts.

HCLTech Q4 Results LIVE Update at 3:45 pm: Shares settle 1.8% lower at closing bell

The shares of HCLTech pared the gains it made during most of the trading session, and settled in the red. At closing bell, the stock was valued at ₹1,477 apiece on the NSE, down 1.8% as against the previous day's close.

HCLTech Q4 Results LIVE Update at 3:15 pm: How rival IT firms performed in fourth quarter?

• TCS reported a 9% YoY surge in net profit to ₹12,434 crore.
• Infosys' net profit increased by 30% YoY to ₹7,969 crore.
• Wipro posted an 8% YoY decline in net profit to ₹2,835 crore.

HCLTech Q4 Results LIVE Update at 02:30 pm: Will revenue rise sequentially?

The revenue from operations, according to analysts' estimates, is likely to remain flat quarter-on-quarter. As per the average of estimates shared by five brokerages, it is seen at ₹28,552.6 crore, marking a slight increase of 0.37% as against the preceding quarter. Year-on-year, it is estimated to rise by 7.3%.

HCLTech Q4 Results LIVE Update at 01:45 pm: How the company's stock has performed in the year so far?

Year-to-date, the stock of HCLTech has grown by 2.5%, whereas the surge has been sharp at 42.6% in the last one year period. Notably, the IT major is competing in a market that is dominated by TCS, Infosys and Wipro, the three biggest IT services providers of India.

HCLTech Q4 Results LIVE Update at 01:10 pm: How the IT company performed in Q3?

In the third quarter of FY24, HCLTech had reported a 6.2% year-on-year growth in net profit to ₹4,350 crore. The revenue grew by 6.5% to ₹28,446 crore.

HCLTech Q4 Results LIVE Update at 12:35 pm: How shares are performing ahead of results?

In the mid-day trading hours, HCLTech shares were edging in the green. The scrip was valued at ₹1,510, up 0.4% as against the previous day's close.

HCLTech Q4 Results LIVE Update at 12:05 pm: EBIT likely to decline 7% QoQ, say analysts

The EBIT or earnings before interest and taxes is likely to come in at ₹5,615 crore, down around 7% as compared to the EBIT of ₹5,226 crore logged in the December 2023 quarter, CNBC TV-18 reported, citing its poll of analysts.

HCLTech Q4 Results LIVE Update at 11:30 am: What are the revenue estimates?

The revenue from operations is likely to come in at ₹28,552.6 crore, marking a slight increase of 0.37% as against the preceding quarter, as per the average of estimates shared by seven brokerages. The estimated revenue will mark a 7.3% year-on-year surge.

HCLTTech Q4 Results LIVE Update at 11:00 am: What are the net profit estimates?

The company is expected to record a net profit of ₹4,054.71 crore in the March 2024 quarter, down 6.8% as compared to the preceding December 2023 quarter, as per an average of estimates shared by seven brokerages. Year-on-year, the estimated net profit will rise marginally by 1.9%.

HCLTech Q4 Results LIVE Updates: HCLTech is set to declare the results of the fourth quarter of financial year 2023-24 (Q4 FY24) today, April 26. The board of directors of the IT major is scheduled to meet today to consider and approve the release of the earnings report. Stay tuned here for the latest updates.

Ahead of HCLTech, the country’s other IT majors, including the top three – TCS, Infosys and Wipro – have declared their fourth quarter results. Tech Mahindra and LTIMindtree disclosed their earnings report earlier this week.

The preview of HCLTech results project a tepid outcome, with an average of estimates shared by seven brokerages hinting at a lacklustre performance in the March 2024 quarter.

HCLTech Q4 results preview

The net profit is seen at ₹4,054.71 crore, down 6.8% as compared to the preceding December 2023 quarter. As compared to the year-ago quarter, the estimated net profit is 1.9% higher.

The forecast for revenue from operations is sequentially flat at ₹28,552.6 crore. This is up only 0.37% as compared to the preceding quarter. Year-on-year, however, the estimated revenue will rise by 7.31%.

In the third quarter of FY24, HCLTech had reported a 6.2% year-on-year growth in net profit to ₹4,350 crore. The revenue grew by 6.5% to ₹28,446 crore.

HCLTech shares

Ahead of the release of Q4 results, HCLTech shares were edging in the green in the early trading hours. The scrip was valued at ₹1,520 apiece at 10:35 am, up over 1% as compared to the previous day’s close. Year-to-date, the stock has grown by 2.5%, whereas the surge has been sharp at 42.6% in the last one year period.