HCLTech shares surge nearly 5% on encouraging Q1 result, FY25 growth guidance

HCLTech’s share price surged as much as 4.88% to ₹1,636.40 apiece on the NSE on Monday, July 15, after the company reported an encouraging set of numbers for the first quarter of the current fiscal (Q1 FY25). At 09:48 am, the stock was trading at ₹1,611.00 on the exchange against the previous close of ₹1,560.20.

For the June quarter, the IT major reported a 20.4% rise in consolidated net profit to ₹4,257 crore and gave a revenue growth guidance of 3-5% for FY25 on GenAI diversification and strong operational execution. The revenue came in at ₹28,057 crore, up 6.6% on a year-on-year (YoY) basis.. On a sequential basis, it was 1.6% lower than the March quarter.

The company also declared an interim dividend of ₹12 per equity share of ₹2 each for fiscal year 2024-25.

The MD added that the Q1 has been a seasonally soft quarter for HCLTech, but affirmed that the Noida-headquartered tech major will achieve its annual growth guidance.

"We stay with our full-year guidance of 3-5% growth in constant currency. In the first quarter, we have done better than what we had anticipated. In the second quarter, we are confident of positive growth in spite of the revenue from State Street divestment going away, we will grow."

The CEO further said that the company is confident it will grow across all geographies and verticals, except financial services.

HCLTech Chairperson Roshni Nadar Malhotra said that with the future-ready portfolio, the company is well-placed to tap emerging opportunities led by GenAI.

Headcount and attrition

HCLTech's headcount at the end of the first quarter of FY25 stood at 2,19,401, down 3.6% sequentially while LTM (last twelve months) attrition came in at 12.8%, down 16.3% YoY. HCLTech share price

Shares of the company have gained 39% in the past one year. In comparison, the NIFTY IT index has rallied over 24% while the benchmark NIFTY50 index has risen by 25%.