MAM
HCL Technologies reports strong Q2FY25 with 8 per cent revenue growth
Mumbai: HCL Technologies showcased a robust financial performance for the second quarter of FY25, ending 30 September 2024, with an 8 per cent year-over-year growth in revenue, driven by solid gains across its key business segments. The company’s board of directors, during a meeting on 14 October, approved the unaudited financial results and declared an interim dividend of Rs. 12 per share. This underscores HCL’s commitment to delivering consistent value to its shareholders amid the dynamic global tech landscape.
The company recorded consolidated revenue from operations amounting to Rs. 28,862 crore, an increase from Rs. 26,672 crore during the same period last year. The growth was fueled by a rise in demand across IT & business services, which contributed Rs. 21,544 crore, and the engineering and R&D services segment, with revenues of Rs. 4,545 crore. HCL software also posted a healthy rise, achieving Rs. 2,773 crore in revenue.
Profit before tax for the quarter stood at Rs. 5,687 crore, while the net profit reached Rs. 4,237 crore, showing an increase compared to Rs. 3,833 crore in Q2FY24. “Our strong financial performance in Q2FY25 is a testament to the resilience of our diversified business portfolio and our focus on delivering customer-centric innovations,” stated HCL Technologies, CEO and MD, C. Vijayakumar.
The approved interim dividend of Rs. 12 per share is set to be paid out on 30 October 2024, to shareholders on record as of 22 October 2024. The company’s ability to sustain dividend payouts reflects its solid financial health and cash flow management.
HCL Technologies reported a total comprehensive income of Rs. 4,793 crore for Q2FY25. The company’s cash flow from operations reached Rs. 9,349 crore for the six months ending September 2024, underscoring its liquidity position. Total assets amounted to Rs. 99,763 crore, with an equity base of Rs. 68,887 crore.
The balance sheet showed a slight increase in current liabilities to Rs. 21,626 crore, which aligns with seasonal trends in the technology sector. Non-current liabilities also rose marginally to Rs. 9,250 crore, reflecting increased lease obligations.
Segment Performance:
– IT and Business Services: This segment continued to be the primary revenue driver, witnessing a 8.2 per cent growth year-on-year, reaching Rs. 21,544 crore. The segment also recorded improved profitability due to efficiency enhancements.
– Engineering and R&D Services: The segment saw an impressive 5.9 per cent rise in revenue to Rs. 4,545 crore, buoyed by increased investment in digital engineering initiatives.
– HCL Software: Showing resilience, the software segment’s revenue increased to Rs. 2,773 crore, backed by strong licensing activity and cloud adoption trends.
The quarter also marked the divestment of the company’s stake in a joint venture with State Street, generating a gain reflected in the Q1FY25 financials. This strategic move allows HCL to focus on core competencies while streamlining its portfolio.
Looking forward, HCL Technologies remains optimistic about sustaining growth through digital transformation initiatives, with a particular focus on artificial intelligence and cloud services. While challenges such as global economic uncertainties and fluctuating exchange rates persist, the company’s diversified service offerings and strategic investments are expected to support stable growth.
Pix courtesy HCL Tech annual report
Brands
Hyundai Venue crosses 1 lakh bookings, adds HX8 Diesel AT variant
New top-spec automatic diesel trim brings ventilated seats, OTA updates and paddle shifters.
MUMBAI: Hyundai Venue just hit the jackpot and upgraded the prize because when you cross 1 lakh bookings, you don’t just celebrate, you throw in paddle shifters and ventilated seats for the ride. Hyundai Motor India Limited (HMIL) announced that the all-new Hyundai Venue has achieved 1 lakh bookings, cementing its strong position in the compact SUV segment. To mark the milestone and further enhance customer choice, the company introduced the new HX8 Diesel Automatic (AT) variant.
The HX8 Diesel AT is powered by the proven U2 1.5L CRDi diesel engine paired with a 6-speed automatic transmission. It adds a host of premium comfort, safety and convenience features, including:
- Ventilated front seats
- Dual-tone leatherette seats with VENUE branding
- Electric 4-way driver seat adjust
- Controller Over-the-Air (OTA) updates
- Hyundai Bluelink connected car technology
- Electric parking brake with auto hold
- Rear disc brakes
- Ambient lighting on crash pad and central console
- Drive mode select (Eco, Normal, Sport)
- Traction control modes (Sand, Mud, Snow)
- Paddle shifters
HMIL, managing director & CEO Tarun Garg said, “We are delighted that the new Hyundai Venue has crossed 1 lakh bookings, reaffirming the strong trust Indian customers place in our brand. The introduction of the new HX8 Diesel Automatic variant further strengthens the Venue lineup, offering customers the perfect blend of diesel efficiency, torque-rich performance and effortless convenience.”
Backed by Hyundai’s extensive sales and service network, the Venue continues to appeal to buyers seeking a feature-rich, comfortable and future-ready compact SUV. The new variant reinforces HMIL’s focus on delivering advanced technology, safety, comfort and value while adapting to evolving customer preferences.
In a segment where bookings are the real horsepower, Hyundai isn’t just counting milestones, it’s handing drivers an automatic upgrade that makes every journey feel like the victory lap.
