InvestorQ : How did you see the results of HCL Technologies on 14th October?
Priyanka N made post

How did you see the results of HCL Technologies on 14th October?

Neelam Naik answered.
7 months ago

HCL Technologies, India’s third largest IT company it terms of top line revenues, reported 4% growth in consolidated net profit at Rs.3,259 crore for quarter ended Sep-21. The top line revenues from operations were up by 11% at Rs.20,655 crore in the same period, compared to a year ago quarter. I constant currency terms, the dollar revenues of HCL Technologies grew 3% on a yoy basis to $2.8 billion.

Guidance was tepid for the margins but robust for top line growth. HCL Tech has guided for double digit growth in revenues for FY22 in constant currency terms, although the number has not been specified. HCL Tech also declared an interim dividend of Rs.10 per equity share and this incidentally marked the 75th consecutive quarter of dividends declared by HCL Technologies. HCL Tech has benefited greatly from the digital shift post pandemic.

EBITDA for the quarter came in at Rs.4,838 crore. The performance of HCL Tech in the quarter was largely helped along the way by 14 new large deal wins with total deals in the quarter pegged at $2.2 billion. The attrition level rose slightly to 12.2% but still remains fairly comfortable compared to a number of companies in the peer group. HCL Tech has recently lagged behind Wipro in the market cap rankings and is the fourth valued IT firm.