Indian IT companies agency HCLTech on Thursday clocked a 9.92 per cent year-on-year (YoY) progress in web revenue within the second quarter (Q2) of 2023-24 that ended on September 30. HCL’s Internet revenue for Q2FY24 stood at Rs 3,883 crore. In the identical interval a 12 months in the past, it was Rs 3,487 crore.
Sequentially, HCL’s web revenue was up 8.55 per cent pushed by a sturdy deal pipeline reported this quarter. As in comparison with the earlier quarter, the IT firm’s web revenue was up by 8.7 per cent. The consolidated income for the quarter grew 8.04 per cent YoY at Rs 26,672 crore, as in comparison with Rs 26,296 crore in Q2FY23. In fixed foreign money phrases, the income was up 3.4 per cent YoY.
The corporate additionally declared an interim dividend of Rs 12 per share for the quarter.
ALSO READ | TCS Q2 End result: Internet Revenue Rises 8 Per Cent To Rs 11,342 Crore; Buyback Value Rs 17,000 Crore Introduced
Attrition for the quarter stood at 14.2 per cent, down from 23.8 per cent in Q2FY23.
“Our income progress of 1.0 per cent QoQ and three.4 per cent year-on-year (YoY) on a continuing foreign money foundation, with a 154 bps QoQ enchancment in working margin and enhancing cashflows, mirror our means to execute effectively in an evolving enterprise setting and our dedication to operational effectivity. Our new bookings of $4 billion this quarter is at an all-time excessive, pushed by a standout mega deal. This achievement underscores our means to grab distinctive alternatives available in the market and provides us optimism for our medium-term progress prospects”, mentioned C Vijayakumar, CEO and MD of HCLTechnologies.
“There is no enterprise impression in Israel. We’ve about 100 workers there,” Vijayakumar added amid Hamas strikes.
Ramachandran Sundararajan, chief individuals officer at HCLTech, mentioned, “We will probably be going with pay revision from October onwards. Mid- and senior administration received’t take pay hikes in FY24. About 90 per cent of the workforce will probably be eligible for pay hike revision.” A complete of 10,000 freshers will probably be employed from from campuses in FY24, he added.
Shares of HCLTech on Thursday closed 1.74 per cent decrease at Rs 1,224.05 apiece on the BSE.
ALSO READ | Infosys Q2 End result: Internet Revenue Rises 3 Per Cent To Rs 6,215 Crore; Income Up 6.7 Per Cent