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
Brenus Pharma Announces FDA Acceptance of IND Application for STC-1010 (BreAK-CRC001) in MSS Metastatic Colorectal Cancer (mCRC)27.5.2026 08:49:00 CEST | Press release
STC-1010 is a first-in-class allogeneic in vivo immunotherapy for which the FDA has authorized clinical evaluation in the U.S. under the BreAK-CRC001 study. This strategic milestone enables the company to execute a global clinical strategy following European regulatory approvals (ANSM, AFMPS), first patients dosed with preliminary results and good tolerability observed in early Phase Ia. First data are expected to be presented during ESMO annual congress 2026. Brenus Pharma, a clinical stage biotechnology company developing novel in vivo immunotherapies for solid tumors, announced that the U.S. Food and Drug Administration (FDA) has accept the company's Investigational New Drug (IND) application for its first drug candidate, STC-1010, in microsatellite stable (MSS) metastatic colorectal cancer (mCRC). STC-1010 is designed to address a critical unmet need worldwide. Approximately 95% of mCRC patients have MSS tumors, which demonstrate minimal response to standard immunotherapies. The FD
Tide Crosses 2 Million Members Worldwide - Big Step Forward in Mission to Support and Grow Small Businesses27.5.2026 08:00:00 CEST | Press release
Continuing to grow in the UK and internationally, with India seeing especially strong member growth in the last 12 months In the UK, Tide has 15% market share and has helped small businesses access over £1.75bn in credit Rapid roll out of products; from admin, accounting and tax tools; subscription options; payment solutions; government registrations; bill payments and credit Tide, the UK’s leading business management platform, today announces it has crossed 2 million members globally, with India in particular seeing strong growth. More than 1.1 million small businesses joined Tide in India since the company launched there in December 2022. This makes India Tide’s fastest-growing market by member acquisition. The UK is Tide’s home market, with 900,000 SMEs, 15% market share, and the majority of the company’s revenue. Tide’s steadily expanding its presence in Europe, with Germany and France, where the platform is gaining strong traction, thanks to millions of small businesses turning to
Alfasigma presents first data on filgotinib from the Phase 3 OLINGUITO trial in axial spondyloarthritis at EULAR 202627.5.2026 08:00:00 CEST | Press release
The information contained within this press release is for the purpose of scientific exchange.It is intended for scientific and investor media only.In the OLINGUITO Phase 3 study in radiographic (r) and non-radiographic (nr) axial spondyloarthritis (axSpA) a significantly greater proportion of patients achieved the prespecified primary endpoint of ASAS40 with filgotinib compared with placebo at week 16.The improvements in signs and symptoms of axSpA with filgotinib, an oral, once-daily JAK1 preferential inhibitor, were observed as early as week 1 and maintained over 52 weeks of treatment.In the r-axSpA and nr-axSpA filgotinib groups, of those achieving a response in the prespecified primary endpoint of ASAS40 at week 16, 84.6% and 78.0% maintained their responses to week 52, respectively.In OLINGUITO no new safety signals were observedfor filgotinib over 52 weeks, and the safety profile was consistent with the known overall safety profile.Primary results from the Phase 3 OLINGUITO tria
Royal London Asset Management Expands Relationship with SS&C to Service New Australian Funds27.5.2026 00:00:00 CEST | Press release
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Royal London Asset Management, a leading U.K. fund management company, has extended its relationship with SS&C. SS&C Global Investor & Distribution Solutions will provide fund administration and unit registry services for its new range of Australian active funds, including: Royal London Global Equity Diversified Fund Royal London Global Equity Enhanced Fund Royal London Global Equity Select Fund Royal London Short Duration Global High Yield Bond Fund RLAM is part of Royal London, the U.K.’s largest mutual life, pensions and investment company. SS&C services approximately £72bn in assets under management across its U.K. fund range. Equity Trustees will serve as the Responsible Entity for RLAM’s new funds, which have launched with around AUD $1 billion in AUM. The unit trusts are structured as feeder funds, providing investors with indirect exposure to RLAM’s range of Dublin-domiciled Undertakings for Collective Investm
SLB Announces Date for Second-Quarter 2026 Results Conference Call26.5.2026 19:00:00 CEST | Press release
SLB (NYSE: SLB) will hold a conference call on July 24, 2026, to discuss the results for the second quarter ending June 30, 2026. The conference call is scheduled to begin at 9:30 a.m. U.S. Eastern time and a press release regarding the results will be issued at 7:00 a.m. U.S. Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (800) 715-9871 within North America or +1 (646) 307-1963 outside of North America approximately 10 minutes prior to the start of the call and the access code is 3440360. A webcast of the conference call will be broadcast simultaneously at https://events.q4inc.com/attendee/157027565 on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until July 31, 2026, and can be accessed by dialing +1 (800) 770-2030 within North America or +1
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