HCLTech Q3 Net Income Increases

(RTTNews) - HCL Technologies Limited (HCLTECH) reported that its third quarter net income increased to $496.8 million from $457.8 million, prior year. EBIT margin was at 19.6%, increased 60 basis points from last year.

Revenue was $3.24 billion, up 9.0% from last year. In constant currency, revenue growth was 13.1%. Services revenue was up 15.4% in constant currency.

For fiscal 2023, the company expects: revenue to be between 13.5% - 14.0% in constant currency; and services revenue to be between 16.0% - 16.5% in constant currency. EBIT margin guidance has been narrowed to 18.0% - 18.5%.

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