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.