The company’s revenue for the quarter also saw a rise, growing by 29 per cent YoY to reach Rs 13,178 crore, compared to Rs 10,173.7 crore in the previous year
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The decline was primarily due to a 10 per cent year-over-year (YoY) decrease in its banking and financial services (BFS) segment, which accounts for nearly half of the company's revenues
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HCLTech maintained a stable net income, reporting Rs 3,986 crore, a minimal YoY increase of 0.1 per cent but experiencing a quarter-over-quarter (QoQ) decline of 8.4 per cent
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The firm's fourth-quarter revenue also rose by 2.1 per cent sequentially, reaching Rs 1,860 crore and exhibited a 6.2 per cent increase
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The IT player’s decision comes at a time when many of its peers are shying away from disclosing precise hiring targets amidst uncertainty and challenging market conditions
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During an analyst call, Joshi detailed initiatives aimed at revitalising the company’s growth trajectory and optimising operational efficiencies
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The company’s consolidated revenue also witnessed a fall, a decrease of 6.2 percent YoY to Rs 12,871 crore, slightly below analyst estimates of Rs 12,926 crore
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CEO Chadha anticipates a “slightly muted” margin in the near term as the company gears up to ramp up investments in several critical technological areas
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Despite these challenges, the company saw a slight growth in revenue, reporting Rs 8,892 crore for the quarter, marking a 2.3 per cent increase YoY but a 1.4 per cent decrease from the previous quarter
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The company's profit before tax (PBT) climbed to Rs 262.4 crore, representing a YoY increase of 4.9 per cent, buoyed by a solid EBITDA margin of 28.8 per cent
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