HCL Tech Q4 FY25 Results: Revenue +6%, PAT +8%

Key numbers from the quarter

HCL Technologies (HCLTech) reported its consolidated results for the March quarter (Q4 FY25) with steady year-on-year growth, but a softer sequential performance. Revenue from operations for the quarter rose 6.13% year-on-year to ₹30,246 crore, while net profit increased 8.05% year-on-year to ₹4,307 crore. The company also declared an interim dividend of ₹18 per equity share.

The Q4 print mattered for investors because it arrived amid a mixed earnings season for large-cap IT, where demand commentary and margin stability have been as important as topline growth. HCLTech’s numbers were described as largely in line, and the stock saw sharp moves around the results day.

Sequential picture: modest revenue growth, profit down

On a quarter-on-quarter basis, HCLTech’s Q4 revenue increased about 1% to ₹30,246 crore. Profit, however, fell 6% versus the December quarter, declining from ₹4,591 crore (Q3 FY25) to ₹4,307 crore. The sequential profit drop was attributed in reports to margin pressures even as topline stayed steady.

The quarter also saw an EBIT improvement on a year-on-year basis, but some moderation compared to the previous quarter. HCLTech reported EBIT of ₹5,442 crore for Q4, up 8% year-on-year, and down 6% sequentially.

Margin performance: where HCLTech landed

HCLTech’s EBIT margin for Q4 was reported at 17.9%, with a year-on-year improvement of 34 basis points. For the full year, the company reported an EBIT margin of 18.3%, which it said was within its guided range of 18% to 19%.

For investors tracking Indian IT earnings, the margin line is closely watched because it reflects the combined impact of utilisation, pricing, wage cycles, and mix. In HCLTech’s case, the quarter showed year-on-year improvement but a sequential pressure point.

Dividend: ₹18 per share, with record and payment dates

The board declared an interim dividend of ₹18 per equity share for FY26. The record date was set as April 28, 2025, and the payment date was May 6, 2025.

Separately, the material also referenced a total dividend of ₹60 per share for FY25, indicating a continued emphasis on shareholder returns alongside growth investments.

Deal wins: $1 billion in Q4 TCV

HCLTech reported new deal wins total contract value (TCV) of $1,995 million (around $1 billion) in Q4 FY25. For the full year FY25, the deal TCV was cited at $1,268 million (also referenced as $1.3 billion in the same material).

The company linked the quarter’s deal momentum to its AI propositions and an integrated go-to-market organisation that it said was set up at the start of the fiscal year.

FY25 full-year performance: revenue up, profit higher

For FY25, HCLTech reported revenue of about ₹1.17 lakh crore, also stated as ₹1,17,055 crore in the material. Net income for the year was reported at ₹17,390 crore, while another figure in the same set of text put PAT at ₹17,399 crore.

In constant currency terms, full-year revenue growth was reported at 4.7%. The company also disclosed diluted EPS for the last 12 months at ₹64.09, up 10.8% year-on-year.

FY26 guidance: growth at 2-5% in constant currency

HCLTech guided for FY26 constant currency revenue growth of 2% to 5% year-on-year. It also indicated services revenue growth in the same 2% to 5% band. EBIT margin guidance for FY26 was maintained at 18% to 19%.

This guidance was flagged as cautious against an uncertain macro backdrop, even as some brokerages noted it was ahead of consensus estimates in the reports referenced.

What the management said

CEO and Managing Director C Vijayakumar said the company’s execution strength should present medium-term opportunities even as it navigates the short term cautiously. Chairperson Roshni Nadar said the company delivered another year of robust growth with a “future ready portfolio” and reiterated a commitment to stakeholder value.

In the earnings-call transcript included in the material, HCLTech also shared operational metrics such as total DSO at 80 days (including unbilled), improving by 3 days year-on-year.

Stock reaction: sharp intraday moves after results

HCLTech shares saw volatile moves around the earnings. One report noted the stock surged as much as 8% on April 23 after the Q4 numbers. Another data point in the material said that on April 23, 2025, the stock opened at ₹1,555 versus a previous close of ₹1,479.90 and was trading at ₹1,571.20 at 9:35 AM, up 6.17%.

Separately, the stock was also reported to have closed 0.26% higher at ₹1,485 on the NSE on the day referenced, while another line said it ended 0.14% down at ₹1,479.90 ahead of the announcement. These prints together indicate the market response evolved quickly across the pre-result and post-result sessions.

Summary table: Q4 and FY25 snapshot

Why this update matters for investors

The Q4 result reinforced a familiar pattern in Indian IT: year-on-year growth remained intact, but sequential trends and guidance carried more weight. HCLTech’s 2% to 5% constant currency guidance for FY26, alongside an 18% to 19% margin band, sets clear near-term guardrails for expectations.

The other key investor takeaway is deal momentum, with Q4 TCV close to $1 billion and FY25 TCV cited above $1 billion. Combined with the interim dividend announcement and the stock’s sharp post-result reaction, the quarter kept HCLTech in focus among large-cap IT names.

Conclusion

HCLTech closed FY25 with reported revenue of around ₹1.17 lakh crore and net income near ₹17,390 crore, while Q4 delivered ₹30,246 crore revenue and ₹4,307 crore profit. The company’s next key marker is execution against its FY26 guidance of 2% to 5% constant currency growth and 18% to 19% EBIT margin, with the declared dividend set for payment on May 6, 2025.