Earnings: HCL Technologies Q1 2023 revenue, profit increase

Information technology company HCL Technologies (NSE: HCLTECH) has reported higher revenues and earnings for the first quarter of 2023, aided by double-digit growth in the core IT and Business Services segment.

Net income attributable to shareholders increased to ₹3,281 crores or ₹12.12 per share in the first three months of 2023 from ₹3,213 crores or ₹11.81 per share in the year-ago period. The bottom-line growth was driven by a 17% increase in revenues to ₹23,464 crores. The core IT and Business Services segment grew by 19%.

The board of directors of HCL has declared an interim dividend of ₹10 per share. Looking ahead, the management expects full-year revenues to grow between 12% and 14% in constant currency. EBIT margin is expected to be in the range of 18% to 20%.

---

HCL Technologies Ltd Q1 FY23 Earnings Concall Transcript

---

“As technology becomes central to lives and businesses, HCL is accelerating the digital transformation journeys of its clients. We continue to pursue our growth strategy with a sense of purpose and responsibility toward our stakeholders and communities”, said Roshni Nadar Malhotra, Chairperson of HCL.