HCL Tech Q1 Results: 5 key highlights from the IT major’s June quarter scorecard
The April-June quarter results of HCL Technologies came in muted, broadly missing Street estimates. Let's take a look at the key highlights of HCL Tech's Q1FY24 scorecard: The numbers The company's consolidated revenue from operations jumped by 12.06 per cent to ₹26,296 crore in Q1FY24, as against ₹23,464 crore in Q1 of FY23. Segment performance With regards to segment-wise performance, HCL Tech's IT and business services revenue stood at ₹19,642 crore in Q1FY24, up by 15.06 per cent YoY. While engineering and R&D services revenue saw a single-digit growth of 3.66 per cent YoY to ₹4,047 crore, and HCL Software revenue climbed by 4.7 per cent YoY. Attrition HCL Tech reported a further decline in its attrition rate to 16.3 per cent in Q1FY24 from 19.5 per cent in the preceding March quarter of fiscal 2022-23.
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