HCL Technologies on Friday reported a 20.4 per cent jump in net profit for the quarter ended June 30 on the back of a 6.7 per cent revenue growth in rupee terms.

Net profit was ₹4,257 crore compared with ₹3,534 crore in the corresponding previous period. Consolidated revenue stood at ₹28,057 crore compared with ₹26,296 crore a year ago.

In constant currency terms, revenue for the quarter increased 5.6 per cent year-on- year but decreased 1.6 per cent quarter-on-quarter. While IT and business services accounted for 74.5 per cent of the company’s revenue mix, engineering and R&D services accounted for 15.9 per cent.

“Our Q1 revenue and EBIT performance was slightly better than our expectations. We clocked $2 billion TCV (total contract value) of new business bookings. We are confident of decent growth in the coming quarters, positioning us well to deliver our revenue guidance for the year as clients continue to spend on Gen AI and other emerging technologies,” said C. Vijaykumar, CEO and MD, HCL Tech.

“With our future-ready portfolio, we are well placed to tap emerging opportunities led by GenAI,” said Roshni Nadar Malhotra, chairperson, HCL Tech.

‘We remain committed to improving our capital efficiency and are pleased to report last 12-month ROIC (return on invested capital) for the company is up 350 basis points year on year at 34.6 per cent and for services business is up 476 basis points year on year at 42.8 per cent,” said Prateek Aggarwal, chief financial officer, HCL Tech.

The company has guided for a 3-5 per cent revenue growth in constant currency in FY25 with an EBIT margin of 18-19 per cent.

The company’s headcount was at 219,401 for the quarter compared with 223,438 a year ago and 227,481 as of the quarter ended March 31, 2024.

The board of the IT services company has recommended an interim dividend of ₹12 per share of ₹2 each for 2024-25.