HCL Technologies Results 2023

HCL Technologies released its Q3 results, and the numbers are impressive. The company's consolidated net profit for the quarter ended December 2022 grew by a whopping 8.4% year-over-year to reach a staggering Rs 4,591 crore.
Not only that, but the company's revenue also saw a significant increase of 5.1% year-over-year, reaching Rs 29,819 crore. Sequentially, the revenue grew by 3.6%.
In terms of business segments, the IT Services business continued to be the main growth driver, contributing 87% of the overall revenue. It registered a growth of 5.2% year-over-year.
The remaining 13% of revenue came from the Products and Platforms business, which saw a growth of 0.8% year-over-year.
And get this, the board of directors has recommended a final dividend of Rs 18 per share for the financial year 2023.

Overall, it was a solid quarter for HCL Technologies. The company's continued growth in revenue and profitability is a testament to its strong execution and customer focus.
Here are some additional highlights from the Q3 results:

The company added 6,406 employees in Q3, taking the total employee count to 1,92,274.

The attrition rate for IT Services stood at 13.2%, a marginal increase from the previous quarter.

The company has a healthy cash and cash equivalent balance of Rs 12,990 crore.
Looking ahead, HCL Technologies expects to continue its growth momentum in the coming quarters. The company is focused on expanding its presence in key growth areas such as digital transformation, cloud computing, and artificial intelligence.

The company is confident in its ability to deliver long-term value to its shareholders.