HCLTech Q1FY24 results: Net profit rises 7.6% YoY to Rs 3,534 crore

The board of directors declared an interim dividend of Rs 10 per equity share for FY24

IT services firm HCLTech on Wednesday reported a 7.6 per cent year-on-year (YoY) growth in net profit in the first quarter of 2023-24 that ended on June 30. Net profit for Q1FY24 stood at Rs 3,534 crore. 

As compared to the previous quarter, however, net profit was down by 11.2 per cent. 

The consolidated revenue for the quarter grew 12 per cent YoY at Rs 26,296 crore as compared to Rs 23,464 crore in Q1FY23.

The company retained its guidance of 6-8 per cent constant currency revenue growth for FY24, and operating margin at 18-19 per cent.

Moreover, board of directors declared an interim dividend of Rs 10 per equity share for FY24.

"The record date of July 20, 2023 fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors. The payment date of the said interim dividend shall be August 1, 2023," the company said. 

The shares of HCL tech on July 12 closed 0.74 per cent lower at Rs 1,106.50 apiece on BSE.