What is your quick take on the Jun-21 quarter results of HCL Tech?

HCL Technologies reported an increase of 9% in net profit at Rs.3,205 crore for the Jun-21 quarter, even as the total top line revenues were up 12% yoy at Rs.20,068 crore. The company has disclosed that the growth in top line was driven by Cloud and Digital Transformation clients, which has been the focus area for HCL Technologies. EBIT margins expanded from 19% to 21%, while operating margins rallied by over 250 bps to above 19%.

HCL Tech has guided for over 10% growth in revenues in constant currency terms for the fiscal year FY22. HCL Tech declared interim dividend of Rs.6 per share. It has also guided for operating margins in the range of 19-21% in the coming fiscal year. HCL Tech also saw a plethora of big deal wins and a sharp reduction in the attrition rate from above 14% to just above 11% during the June quarter.