HCL Technologies reported the third quarter ended December 31 with 31% YoY rise in net profit to ₹3,982 crore while revenues up by 6.4% to ₹19,302 crore. HCL Tech reported ₹3,037 crore profits and ₹18,135 crore revenue in the same quarter last year. HCL Tech shares were up 1% at ₹1037 in early trade as compared to a flat Mumbai market. The company declared an interim dividend of ₹4 per equity share. It was 72nd consecutive quarter of dividend payout by the IT firm.
Shiv Nadar, Chief Strategy Officer, HCL Technologies Ltd said, “The technology sector is in the midst of a massive digitization wave, with more global enterprises embracing digital transformation to address the disruption of these unprecedented times. Technology has been a key enabler during the pandemic, and as we stand at the cusp of the next phase of technological innovation, it is vital that we draw inspiration from each other’s strengths and offer back our own to create a positive impact.”
Key Points to take from HCL Q3 Results:
- Revenues rose 2.9 per cent YoY (4.4 per cent QoQ) to $2.62 billion.
- In constant currency revenues rose 3.5% QoQ & 1.1% YoY.
- Ebit margin for the 3rd quarter rose to 22.9 per cent in the December quarter from 21.6 per cent September quarter and 20.2 per cent in the December quarter of last year.
- Net Income at $540 mn (Net Income margin at 20.6%) up 27.3% QoQ & up 26.5% YoY
- Revenue expected to grow QoQ between 2% to 3% in constant currency for Q4, FY’21.
- EBIT expected to be between 21.0% and 21.5% for FY’21
HCL said it won 13 transformational deals across industry verticals, including Life Sciences and Healthcare, Technology and Financial Services.