HCL Tech Q4 Results Live Update: HCL Tech, a leading IT company, is anticipated to experience a sequential revenue increase in the March quarter. This growth is attributed to the reversal of furloughs from the previous quarter and additional revenue generated from the Verizon deal. Nonetheless, analysts caution that subdued discretionary spending may dampen overall performance. Read full preview here
HCL Tech Q3 Results: Beating the seasonality issue that the IT sector faces, HCLTech is expected to have put up a far better performance than its frontline peers in the December quarter. This is because this period is seasonally strong for the company.The company is seen reporting a nearly 5% sequential rise in consolidated revenue to Rs 27,959.40 crore, and net profit is expected to increase by nearly 7% to Rs 4,085 crore, according to the average of estimates given by 11 brokerage firms.On a year-on-year (YoY) basis, the topline is expected to rise 4.7%, while the bottomline may drop a marginal 0.3%.In constant currency terms, analysts expect HCLTech’s revenue to grow 4.6% sequentially in the quarter gone by.
The revenues of Wipro came in at ₹22,205 crore in Q3, indicating a 4.4% YoY drop, while HCL Tech reported consolidated revenue of ₹28,446 crore in Q3, reflecting a 6.5% YoY growth.
HCLTechs attrition for the quarter stood at 16.3% compared to 19.5% reported last quarter. The 12-month trailing attrition rate is at 16.3%, compared to 19.5% a quarter ago. Its headcount in the first quarter stood at 223,438 with a drop of 2,506 over the previous quarter, said Ramachandran Sundararajan, chief people officer. The company, however, added 1,597 freshers during the quarter.