HCL Technologies Shares Soar Amid Impressive Profit Growth

Shares of HCL Technologies surged over 7% after announcing an 8.1% increase in consolidated net profit for Q1 2024-25. The growth was attributed to large deals totaling Rs 25,500 crore. HCL's CEO reported significant gains across service lines. Annual net profit rose 11%, reaching Rs 17,390 crore.

Shares of HCL Technologies surged more than 7% on Wednesday, reflecting investor confidence following the company's announcement of an 8.1% rise in consolidated net profit for the first quarter of 2024-25.

The rise in stock price came as HCL Technologies disclosed large-scale deals amounting to Rs 25,500 crore, significantly boosting its financial performance. CEO C. Vijayakumar attributed the impressive results to strategic contracts that contributed to the company's substantial profit growth.

The firm also reported a 6.1% revenue increase from operations, enhancing its fiscal year-end profit by 11% to Rs 17,390 crore, with a revenue boost to Rs 1,17,055 crore year-on-year.

(With inputs from agencies.)