HCL Technologies Posted Subdued Performance, Net Income Down 2.8% QOQ

HCL Technologies announced its Q4FY23 results for FY23 on Thursday. Its net income stood at Rs 3,983, down by 2.8% against previous quarter, but up 10.8% over previous year.

It was below the reported Motilal Oswal's estimates, adjusted PAT was factored around Rs 4,100 crore with an upside of 19% YoY and 17.4% quarter on quarter (QoQ).

For the full year, the company's net income grew by 10% at Rs 14,851 crore. The revenue for full year ending in March 2023 crossed 1 lakh crore milestone to touch Rs 1,01456 crore, its up by 18.5%. In terms of constant currency the revenue was up 13.7%.

The attrition was at 19.5%, the company added 17,067 employees during the year to take the total head count at 2,25,944, it was up 8.2%.

Further the company even declared a dividend of Rs 18 per share for the quarter. The total dividend declared by the company stands at Rs 48 per share, with a payout ratio of 87.5% for FY23.

The latest market price of HCL Technologies stock closed at Rs 1037.55 per equity share, down by 0.04% over previous day's closing. Its 52-week low is at Rs 1,156.80 per share and 52-week low is Rs 875.65 per share.