5% increase in HCL revenue and workforce in FY24

In FY24, HCLTech’s sales increased by 5% in constant currency, which was a considerable decline from the 13.7% rise seen the year before. The operational margin of the corporation was constant at 18.2% annually.

“We responded with agility and maintained good momentum in the services and software businesses,” said C. Vijayakumar, CEO of HCLTech. Our operating margin ended the year at 18.2%, in line with our projections.We expect both the supply and demand fronts to consolidate in the next year (FY25).

The company’s sales increased marginally by 0.3% in constant currency on a sequential basis. But from 19.8% in the December quarter to 17.6% in the March quarter, its operating margin fell by 220 basis points.