Revenue from operations declined 1.6% to Rs 28,057 crore in the first quarter of FY25 from Rs 28,499 crore recorded in the last quarter of FY24.

On a year-over-year (YoY) basis, HCL Tech's net profit and revenue for Q1 FY25 are higher by 20.4% and 6.7%, respectively.

EBIT for Q1 FY25 was Rs 4,795 crore, down 4.4% QoQ and up 7.5% YoY. EBIT margin was 17.1% for Q1 FY25 as against 17.6% in Q4 FY24 and 17% in Q1 FY24.

In dollar terms, the IT firm's revenue for the period under review was $3,364 million in Q1 FY25, down 1.9% QoQ and up 5.1% YoY. In constant currency (cc) terms, revenue in the June’24 quarter was down 1.6% QoQ but up 5.6% YoY.

Total contract value (TCV) of new deal wins was $1,960 million at the end of June’24 quarter.

Total people count stood at 219,401 as on 30 June 2024, up 1.21% QoQ and up 0.68% YoY basis. LTM attrition rate was at 12.8% for Q1 FY25 as against 12.4% for Q4 FY24 and 16.3% for Q1 FY24.

In terms of FY25 guidance, the company’s CC revenue growth expected to be between 3%-5% YoY. Services CC revenue growth expected to be between 3%-5% YoY. EBIT margin expected to be between 18%-19%.

The board of HCL Tech has declared an interim dividend of Rs 12 per equity share for the financial year 2024-25. The record date is fixed on 23 July 2024 and the dividend will be paid on 1 August 2024.

C Vijayakumar CEO & Managing Director HCLTech, said: “We are pleased to report another quarter of industry leading performance with 5.6 % YoY revenue growth on constant currency basis.

Our Q1 Revenue and EBIT performance was slightly better than our expectations. We clocked in $2B TCV of new business Bookings. We are confident of decent growth in the coming quarters, positioning us well to deliver our revenue guidance for the year as clients continue to spend on GenAI and other emerging technologies.”

Prateek Aggarwal, chief financial officer, HCLTech, commented: “HCLTech delivered an INR revenue growth of 6.7% YoY, healthy given the global environment. EBIT margins came in at 17.1%, steady on YoY basis.

We delivered PAT of Rs 4,257 crore for the quarter, which translates to YoY growth of 20.4%. Our cashflow generation remains robust with LTM FCF at Rs 21,637 crore, 133% of PAT and 88% of EBITDA.

We remain committed to improving our capital efficiency and are pleased to report Last Twelve Month (LTM) ROIC for the company is up 350 bps YoY at 34.6% and for Services business is up 476 bps YoY at 42.8%.”

HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P).

The scrip had advanced 3.20% to end at Rs 1560.40 on the BSE on Friday.