HCL Technologies reported a steady performance for the quarter ended March 31, 2025. The company’s INR revenue came in at ₹30,246 crore, reflecting a 1.2% growth sequentially and 6.1% growth year-on-year (YoY). However, in constant currency (CC) terms, revenue was down 0.8% QoQ, although it still rose 2.9% YoY.
The USD revenue for the quarter stood at $3,498 million, registering a 1% decline QoQ and 2% rise YoY. Within this, services revenue showed a modest 0.7% sequential rise and 2.7% annual growth in constant currency.
Digital business continued to expand, with Digital CC revenue rising 12.6% YoY, now contributing 40.7% of total services revenue. HCLSoftware’s ARR was reported at $1.03 billion, up 1.8% YoY in CC terms.
Profitability and Margins
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EBIT stood at ₹5,442 crore, down 6.5% QoQ but up 8.4% YoY.
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Net Profit was ₹4,307 crore, declining 6.2% QoQ but increasing 8.1% YoY.
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EBIT margin came in at 18.0%, while net profit margin stood at 14.2%.
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Free Cash Flow (FCF) stood at $2,501 million, and operating cash flow (OCF) at $2,632 million on a trailing 12-month basis.
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The board announced a dividend of ₹18 per share, marking the 89th consecutive quarter of dividend payout.
Other Key Highlights
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Total Contract Value (TCV) of new deal wins stood at $2,995 million in Q4 FY25.
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Total employee headcount was 223,420, with net additions of 2,665, including 1,805 freshers.
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Attrition rate (excluding involuntary exits and digital process operations) rose slightly to 13.0%, compared to 12.4% in Q4 last year.
Roshni Nadar Malhotra
Chairperson, HCLTech
“HCLTech has delivered another year of robust growth with its future-ready portfolio. We also marked the 25th anniversary of HCLTech going public and achieved the distinction of delivering best-in-class TSR over the past decade. We remain committed to creating value for all our stakeholders.”
C Vijayakumar
CEO & Managing Director, HCLTech
“HCLTech grew the fastest among our peers for the second year in a row as we witnessed yet another year of disciplined execution. We delivered on our FY25 guidance with revenue growth of 4.7% in constant currency and EBIT margin of 18.3%. HCL Software growth continues to accelerate as it grew 3.5% CC this year. During this quarter, our services business delivered healthy growth of 0.7% QoQ CC amidst volatile market conditions. We saw very strong new bookings of $3B this quarter catalyzed by our AI propositions and integrated GTM organization that was set up at the start of the fiscal year. The strength of our execution should present us good medium-term opportunities emerging out of global uncertainties while we navigate the short-term cautiously.”
Shiv Walia
Chief Financial Officer, HCLTech
“HCLTech delivered 6.5% INR revenue growth in FY25, yet another year of best-in-class performance. Our revenue came in at ₹117,055 Crores, up 6.5% and EBIT at ₹21,420 Crores, up 7.0%. HCLTech service revenue crossed a new milestone at ₹105,398 Crores, up 6.6%. Our Net Income (NI) for the year came in at ₹17,390 Crores, up 10.8%, translating to an EPS of ₹64.09. Our Board is pleased to declare ₹18/share as the Dividend for the quarter, bringing the total to ₹60/share for FY25, which is 93.5% of the EPS. ROIC stands at 37.9% for the Company up 411 bps; at 45.5% for Services, up 376 bps. Our cash generation remains robust with OCF/NI at 129% and FCF/NI at 123%.”
Outlook
Despite macro uncertainties, the company showcased consistent growth in digital business and services revenue. Margin improvements and sustained deal momentum helped maintain a robust financial position.
