Mumbai, Jan 13 (Blitz India Business) Global technology company HCLTech on Monday posted 5.5 per cent growth (year-on-year) in net income at Rs 4,591 crore for Q3 FY25, as revenue grew 5.1 per cent at Rs 29,890 crore on an annual basis.
The EBIT margin was 19.5 per cent in Q3, up from 18.58 in Q2 FY25. EBIT margin was up 90 bps (on-quarter), 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 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.
According to analysts, the Q3 performance and revised guidance reflects that the company is on track to deliver industry leading growth among tier 1 IT companies for FY25.