NY-HCLTECH
26.4.2024 22:07:31 CEST | Business Wire | Press release
HCLTech, a leading global technology company, today reported financial results for the fourth quarter and the full year ended March 31, 2024.
The company reported full year revenue of $13.3 billion, up 5.4% YoY. Digital Services revenue grew by 5.3% (CC) and now contributes to 37.3% of IT Services revenue. HCLSoftware’s Annual Recurring Revenue came in at $1.02 billion. During FY24, the company won 73 large deals – 36 in Services and 37 in Software - that translated into TCV (new deal wins) of $9.76 billion, up 10% YoY.
For the quarter, revenue came in at $3.43 billion, up 6% YoY. HCLTech won 21 large deals – 13 in Services and eight in Software, with a TCV of $2.29 billion during the quarter.
In terms of geographies, Americas was the fastest growing region with 6.8% YoY (CC) growth followed by Europe, which grew by 5.5% YoY (CC).
Industry vertical growth was led by Financial Services and Telecommunications, Media, Publishing & Entertainment. While Financial Services grew at 12.1% YoY CC for the full year, the Telecommunications, Media, Publishing & Entertainment vertical recorded 39.2% growth (YoY) during the quarter.
The company announced a dividend of ₹18/share for the quarter, bringing the total to ₹52/share for FY24.
HCLTech’s total people count at the end of the quarter stood at 227,481. The company hired a total of 12,141 freshers during the full year. LTM attrition further moderated to 12.4% from 19.5%.
“HCLTech continues to lead the industry in FY24 with good USD revenue growth of 5.4% YoY during challenging times through our strong commitment to our clients and our people. More importantly, we have translated this growth into even higher value creation for our shareholders with our OCF (operating cashflow) coming at $2,711 million, up 21.6% YoY and FCF (free cashflow) at $2,584 million, up 27.7% YoY. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalize with our AI-led propositions, global delivery model and ideal mix of technology services and products,” said C Vijayakumar, CEO & Managing Director, HCLTech.
For FY25, the company has given a guidance of 3%-5% revenue growth YoY (CC) and EBIT margin at 18%-19%.
“HCLTech’s FY24 performance underlines the resilience of our business model with revenue at ₹109,913 crore, growing 8.3%. We delivered this industry-leading growth with EBIT at ₹20,027 crore, up 8.4%. Net Income (NI) for the year came in at ₹15,702 crore, up 5.7%, translating to an EPS of ₹57.86,” added Prateek Aggarwal, Chief Financial Officer, HCLTech.
HCLTech is witnessing strong growth in cloud and cybersecurity. AI and GenAI are key areas of focus and the company recently launched HCLTech AI Force, an innovative GenAI platform that accelerates time-to-value by transforming the software development and engineering lifecycle, delivering greater productivity, improved quality and faster release timelines. It is system agnostic and offers a highly customizable suite of GenAI-based solutions that inject intelligence into software development and engineering workflows to improve efficiency and developer experience.
Among the select GenAI deals that HCLTech won in the quarter are:
- A US-based biopharmaceutical company selected HCLTech to leverage GenAI and data engineering to automate the extraction of structured and unstructured data from diverse sources.
- A US-based financial services provider selected HCLTech to migrate its existing machine learning models to new-age GenAI platforms for greater agility, improvement and innovation in service delivery.
HCLTech was recognized by Ethisphere as one of the World’s Most Ethical Companies in 2024. Other key recognitions that HCLTech received in Q4 FY24 are:
- Rated AA in the MSCI ESG ratings for the second consecutive year
- Included in the S&P Global Sustainability Yearbook 2024 for the second year in a row
- Rated as the fastest-growing IT services brand with 15.9% YoY growth in brand value among the top 10 IT companies globally, as per the 2024 Brand Finance Global 500 and IT Services Top 25 Report.
About HCLTech
HCLTech is a global technology company, home to more than 227,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending March 2024 totaled $13.3 billion. To learn how we can supercharge progress for you, visit hcltech.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240426991009/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Compass Pathways Announces Second Quarter and First Half 2026 Financial Results and Business Highlights5.8.2026 12:30:00 CEST | Press release
Data from two positive Phase 3 trials demonstrated rapid onset of effect and durable benefit through at least 6 months, further validating COMP360’s potential to establish a new standard of care in TRD COMP360 has a highly differentiated clinical profile and is expected to be a blockbuster opportunity, if approved Rolling NDA submission and initial review underway and final submission expected to be completed in Q4 Commercial launch expected in first half of 2027 COMP360 expected to fit seamlessly into current treatment infrastructure Late-stage PTSD trial underway Strong cash position of $433 million at the end of second quarter, providing cash well beyond launch and into 2028 Compass management will host a conference call on August 5 at 8:00 am ET Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, today reported the second quarter and first half 2026 financial results and business highlights
BeOne Medicines Announces Second Quarter 2026 Financial Results and Business Updates5.8.2026 12:00:00 CEST | Press release
Total global revenues of $1.7 billion for the second quarter, an increase of 30% from the prior year BRUKINSA (zanubrutinib) global revenues of $1.2 billion for the second quarter, an increase of 31% from the prior yearDiluted GAAP Earnings per American Depository Share (ADS) of $2.05 for the second quarter; non-GAAP diluted Earnings per ADS of $3.84 for the second quarterRaised 2026 total revenue guidance to $6.6 to $6.8 billion; GAAP operating income of $1 to $1.1 billion, non-GAAP operating income of $1.7 to $1.8 billion BeOne Medicines Ltd. (NASDAQ: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced financial results and corporate updates from the second quarter of 2026. John V. Oyler, Co-Founder, Chairman, and CEO, BeOne, said: “These strong second-quarter results underscore our continued growth as a global oncology leader. Our foundational hematology franchise, led by BRUKINSA, continues to gain momentum as we advance one of the industry’s deepest and most
Tecnotree Delivers Double-Digit Profit Growth and Accelerated Deployment Momentum in H1 20265.8.2026 11:11:00 CEST | Press release
Tecnotree, a global leader in AI-native Digital Business Support Systems (BSS) and digital platform solutions for the telecommunications industry, today announced its financial results for the first half of 2026. The company delivered growth across every principal financial measure, expanded operating margin by 800 basis points, and converted a record order book into deployment at pace, with eight go-lives completed across the North America, Africa and the Middle East. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260805406933/en/ Tecnotree Delivers Double-Digit Profit Growth and Accelerated Deployment Momentum in H1 2026 First Half (January – June 2026) Net sales of EUR 36.8 million (EUR 34.2 million), up 7.5% year-on-year; in constant currency, EUR 37.6 million, up 10.0% year-on-year. Operating result (EBIT) of EUR 13.2 million (EUR 9.6 million), up 38.1% year-on-year. Operating margin of 36.0% (28.0%), up 800 bps year-on
Ekovolt Welcomes Éric Scotto, Co-Founder of Akuo Energy, as a Shareholder, and Rebrands as Pont Digital Infrastructure5.8.2026 10:00:00 CEST | Press release
Ekovolt, a holding company focused on the development and investment in next-generation data centre infrastructure, and co-owner of Voltekko, a Southern European data centre development platform, today announces two milestones: Éric Scotto — co-founder and former President of Akuo Energy, a pioneering figure in the French and international energy transition — becoming a shareholder, and the company’s rebranding as Pont Digital Infrastructure. Éric Scotto, an iconic figure in French renewable energy, joins the company as a shareholder, bringing recognised expertise in developing, financing and structuring long-term sustainable infrastructure projects. After an early career in information technology and finance, Éric Scotto moved into renewable energy in 2003. He founded Perfect Wind and developed one of the first large-scale wind farms in France (57 MW) in partnership with General Electric — with operations also in Poland and Turkey — before selling the company to Iberdrola in 2006. In
Bending Spoons opens office in Madrid, betting on a promising pool of tech talent5.8.2026 09:00:00 CEST | Press release
Bending Spoons, the technology company behind products such as WeTransfer and Meetup, has opened an office in Madrid. The decision is underpinned by Spain’s strong talent pool, fuelled by excellent universities, and by Madrid’s international appeal and its quality of life. “We’re impressed by the talent we’ve seen in Spain. This year, we’ve received around 10,000 Spain-based applicants every month, and many of them perform among the very best candidates in our selection process. The calibre of education offered by Spanish universities is particularly high, and over the next few years we’re hoping to grow our team in Madrid into the hundreds,” says Andrea Maiorana, talent data lead. Located in the Recoletos area, the office is the company’s third European base, following the Milan headquarters and the recently opened London branch. The office is in one of the city's most coveted locations, within walking distance of Retiro Park and the Prado Museum. For new hires relocating to Madrid, B
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom