Conference Call with HCL Technologies Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting and Software company HCL Technologies announced Q2FY24 results: 1. Financial Performance: - HCLTech reported revenue of Rs 26,672 crore, a growth of 1.4% QoQ and 8.0% YoY. - The company achieved a net income of Rs 3,832 crore, up 8.4% QoQ and 9.8% YoY. - EBIT margin improved to 18.5%, a YoY increase of 50 bps. 2. Services Revenue: - HCLTech's services revenue grew by 1.6% QoQ and 3.4% YoY on a constant currency basis. - Digital revenue contributed to 37.6% of the services revenue. 3. Software Revenue: - HCLTech's software revenue grew by 3.6% YoY on a constant currency basis. - HCLSoftware ARR stood at USD 1.03 billion, up 3.9% YoY on a constant currency basis. 4. Client Growth: - HCLTech added 3 USD 100 million+ clients and 7 USD 50 million+ clients YoY. - The company's LTM attrition rate decreased to 14.2% from 23.8% in Q2 FY23. 5. Awards and Recognitions: - HCLTech received 80+ leadership positions in analyst recognitions. - The company won multiple awards for its CSR initiatives, leadership development, and employee engagement. 6. Sustainability Initiatives: - HCLTech launched the HCLTech Grant Americas program, committing USD 5 million over 5 years for NGOs combatting climate change. - The company received a Gold rating from EcoVadis for its sustainability performance. Result PDF