Q3 results 2024: Wipro and HCL Technologies to declare Q3 results today along with 10 other companies. Expectations for Wipro s and HCL Tech s Q3 results discussed by market experts.
India s third-largest IT service provider HCL Tech reported a decent set of numbers as the consolidated net profit rose 13.5% sequentially to Rs 4,350 crore. The IT major s Board declared an interim dividend of Rs 12/share and fixed January 20 as the record date for the same. The payment date of the said interim dividend will be January 31.
Both the revenue and profit were above analysts average estimate of 24,382 crore and 3,418 crore, respectively. Further, the board of directors have approved a dividend of Rs 10 per share. In an unexpected move, the company raised its revenue growth guidance for FY23. HCL Tech now sees 13.5-14.5 per cent growth in revenue in constant currency, against 12-14 per cent projected earlier.
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.