Tech Mahindra, LTI Mindtree, HCL Technologies, and Wipro each present unique strengths and strategies in the IT sector. From telecommunications focus and merger synergies to diversified services and digital investments, these companies are shaping the future of technology services amid challenges and opportunities in a rapidly evolving industry landscape.
HCL Technologies showcased a solid performance in its Q3 FY2024 results, reporting a 6.23% increase in net profit, reaching Rs 4,351 crore. The company’s revenue also saw a significant rise, growing by 6.5% year-on-year to Rs 28,446 crore. This growth includes contributions from the ASAP acquisition, with a projected CC revenue growth of 5.0% to 5.5% YoY. Financial Services, Manufacturing, and Life Sciences & Healthcare led the segment growth, with significant expansion in American and European markets. HCLTech’s focus on AI and cloud-native capabilities was evident in key deals secured during the quarter. The company’s market performance was strong, with its shares increasing by over 4.6% post the results announcement, outperforming major IT sector rivals. HCLTech also declared an interim dividend of Rs 12 per equity share and reported an attrition rate of 12.8%. These results highlight HCLTech’s continued growth momentum and strategic focus on emerging technologies.
HCL Technologies Reports Robust Q3 FY2024 Results: Net Profit Rises 6%, Revenue Up by 6.5%, with Significant Growth in Key Segments
