HCL Technologies Q4 Results: Net Income at ₹3,986 Crore (14.0% of Revenue), up 0.1% YoY

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00


HCL Tech Q4 results were announced on 26 April 2024, delivering positivity on many fronts, just as the Company itself expected itself to do. The Company, on the Revenue side marked Q4 with a Revenue of ₹28,499 Crore, up 0.2% QoQ & up 7.1% YoY. On the profitability side, the numbers for Q4 were just as strong, with EBIT at ₹5,018 Crore (17.6% of Revenue), but down 10.6% QoQ and up 3.8% YoY and the Net Income was at ₹3,986 Crore (14.0% of Revenue), a decrease of 8.4% QoQ, but a YoY rise of 0.1%. On the workforce front, the Company added 3,096 freshers, and reported an LTM Attrition at 12.4%, a decrease (19.5%) from the same quarter of the previous fiscal year.


Generating global technology and industry-pioneering capabilities, HCL Technologies’ results for the fourth quarter of FY2023-24 have proved, once again, that the Company is a serious contender in its sector. With supercharged progress, the Company has recorded 12-month (FY24) Revenues ending March 2024 at an astounding total figure of $13.3 billion. This says it all for an Indian-based technology Company that has lead itself to greater and more lofty heights, seeing success in every quarter. “Progressive” is just one perfect way to describe HCL Tech and its initiatives as Q4 witnessed a Revenue of ₹28,499 Crore, up QoQ and YoY. Constant Currency Revenue was similarly on the upside and Profitability was not to be left out, with Net Income up 0.1% YoY and ROIC (LTM Basis) of the Company up by 33.8%, and Services up by 41.6%. 

Explore: Hcl Technologies Share Price

5 Key Financial Highlights

A Company’s Q4 financial results translate to its quarterly performance and shed a lot of light on the Company’s operations. Five main financial highlights of HCL Technologies’ Q4 results are worth a look so you know exactly how the tech leader has fared in Q4: 

  • The Company reported its Revenue at ₹28,499 Crore, up by 0.2% QoQ & up by 7.1% YoY. Constant Currency (CC) Revenue up 0.3% QoQ & up 6.0% YoY
  • EBIT was clocked at ₹5,018 Crore (17.6% of Revenue), falling 10.6% QoQ and rising 3.8% YoY 
  • Net Income was at ₹3,986 Crore (making up 14.0% of Revenue), decreased by 8.4% QoQ and increased by 0.1% YoY
  • ROIC (on an LTM basis) for the Company was at 33.8%, up 341 bps YoY; and for Services was at  41.6%, up 430 bps YoY
  • Free Cash Flow for the quarter ended 31 March 2024 was at ₹7,518

Strong Initiative, Strong Business

HCL Tech Q4 results are representative of the Company’s commitment to its stakeholders as much as its commitment to expanding its operations. Here are some other significant highlights of the Company’s Q4 and Annual Results of FY24: 

  • Segment Revenues took the Company’s total revenues up; Services CC Revenue was up 3.0% QoQ and up 6.7% YoY driven by growth in Telecommunications, Media, Publishing & Entertainment (up 21.6% QoQ and up 39.2% YoY), while the Digital Business CC Revenue was up 6.3% YoY,  contributing 37.1% to the Services segment
  • A dividend of ₹18/- per share was anounced, for the 85th consecutive quarter of dividend pay-outs by the Company
  • From the angle of TCV (New Deal wins), these stood at a worth of US$ 2,290 Mn, and the Company won 21 fresh large deals - 13 in Services segments and  8 in Software
  • From the ESG perspective, HCLTechnologies earned a leadership rating from CDP for its action toward climate change

Additional Read: 129 Indian Companies to Release Q4 Results

Growth Drivers for HCL Tech

HCLTech’s Q4 and FY24 performance emphasises the resilience of the Company’s operations and the business as a whole. The Company, for FY2024, has delivered industry-leading growth with EBIT at an impressive ₹ 20,027 Crore, up by 8.4%. Net 

Income for the year speeded in at ₹15,702 Crores, translating to an EPS of ₹57.86. With a razor-sharp concentration on cash generation for the quarter and the fiscal year (OCF/NI at 143% and FCF/NI at 136%), the Company continues to expand. 

Additional Read: Quarterly Results


Major Financial Metrics - Consolidated Q4 (FY2023-24) Financial Results (Income Statement) of HCL Technologies (in ₹ Crore)


Quarter Ended 31 March 2023

Quarter Ended 31 Dec 2023

Quarter Ended 31 March 2024





Gross Profits








Depreciation and Amortisation








Net Income




LTM EPS (₹) Basic




LTM EPS (₹) Diluted




HCL Technologies - Creating the Way Ahead

With awards and recognitions in its kitty, not to mention enough initiatives to save the planet, HCL Technologies Q4 results may be seen as benchmarks for similar companies that seek to forge ahead in their operations and businesses. In the quarter and FY24, the Company has won major deal wins in the global ecosystem in areas of Gen AI and expects these to turn into fruitful gains in the upcoming fiscal year. Most of these deals and partnerships are forged in the Americas (U.S.) and Europe and spell the confidence that global contenders have in HCL Tech’s prowess in operations. 

Additional Read: Annual Results


If there ever was an Indian company working in diverse technology areas to drive business, it is HCLTech. On a global scale, it is home to a workforce of more than 227,000 strong people in over 60 countries. The Company is famous for its delivery of industry-leading capabilities centered around engineering, digital, cloud and

AI, energized by a broad portfolio of technology products and services. As the Company works with all verticals, it leads the industry in India. It is fast becoming a global player, showing its robust operations in challenging times with a solid U.S. Revenue Growth of 5.4% YoY and OCF and FCF at US$ 2,711 Mn and US$ 2,584 Mn, respectively, both up by significant percentages YoY.

Source: HCL Technologies Media Release on BSE

Results for the Fourth Quarter and Full Year Ended March 31, 2024

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc


Share this article: 

Frequently Asked Questions

What was the HCL Technologies Q4 Revenue?

Answer Field

For Q4, the Company reported its Revenue at ₹28,499 Crore, up by 0.2% QoQ & up by 7.1% YoY.

What segments of the Company contributed the most to its Revenue in Q4?

Answer Field

HCL Tech’s Q4 results showed the Company’s Revenue Growth and key contributions to this came from the segments of Telecommunications, Media, Publishing & Entertainment (up 21.6% QoQ).

Did HCL Technologies declare a dividend in its Q4 result release?

Answer Field

HCL Technologies announced a dividend payout of ₹18/- per share in its Q4 results, for the 85th consecutive quarter of dividend payouts by the Company.

No Result Found

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

7.5 Lacs+ Users


4.3+ App Rating


4 Languages


₹4300 Cr MTF Book