New Delhi: IT giants HCL Tech on Wednesday reported 7.6 per cent year-on-year (YoY) growth in its consolidated net profit for the June quarter to Rs 3,534 crore.

Firms’ consolidated revenue grew 12 per cent YoY to Rs 26,296 crore. The company’s board further, declared an interim dividend of Rs 10 per share.

The record date for the dividend distribution has been decided to be July 20.

The software service provider saw the topline fall by 1.2 per cent and the bottom line by 11.3 per cent.

HCL Tech maintained its revenue guidance of 6-8 per cent and operating margin at 18-19 per cent for the fiscal.

The Chief Executive Officer and Managing Director C Vijaykumar said, “In Q1FY24, our revenue and people strength sequentially moderated in line with the demand environment. These large deals helped offset cuts in discretionary spending in these verticals. We are expecting other verticals to pick up as well shortly.”

IT company’s total workforce stood at 2,25,035 by the end of the June quarter.

Unlike TCS, which rewarded employees with annual salary hikes, HCL Tech deferred annual pay reviews of its staff by a quarter.

(Written by – Mahek Nigam

Edited by – Prateek Gautam)