HCL revenue up 5% in FY24, sees headcount rise

BENGALURU: HCLTech's revenue grew 5% in constant currency for FY24, marking a significant decrease from the 13.7% growth recorded in the previous year. The company's operating margin remained stable at 18.2% year-on-year.
HCLTech CEO C Vijayakumar said, "We reacted with agility and maintained good momentum in the services and software businesses. Our operating margin has aligned with our guidance, ending the year at an 18.2% margin.In the next year (FY25), we anticipate consolidation on both the demand and supply fronts."
On a sequential basis, the company's revenue saw a marginal increase of 0.3% in constant currency. However, its operating margin declined by 220 basis points, falling to 17.6% in the March quarter from 19.8% in the December quarter.