HCL Tech Q2 net profit rises 4% to Rs 3,259 crore

Consolidated revenue rose 11% to Rs 20,655 cr

IT firm HCL Technologies on Thursday reported 4% jump in consolidated net profit at Rs 3,259 crore for the quarter ending September 30, 2021 as against Rs 3,143 crore a year ago. 

Revenue rose 11% to Rs 20,655 crore from Rs 18,594 crore a year ago. The company declard an interim dividend of Rs 10 per share.

“As we look forward with hope and optimism, what stands out is the human capacity to overcome unforeseen challenges, born of sheer determination. The pandemic accelerated the need for building together a sustainable and scalable future and investing in purpose-driven growth. The lessons learned have sharpened our ability to adapt and to innovate and deepened our commitment to bringing positive change through technology. We believe in ‘The New Essential’ – the confluence of technology and human ingenuity – as the path forward. In the months ahead, we will further accelerate our actions and investments in emerging technologies, people and ESG to build a stronger and better future together,” said Roshni Nadar Malhotra, Chairperson, HCL Technologies Ltd. 

The company expects revenue to grow in double digits inn constant currency for FY22. Ebit margin is expected to be between 19% and 21% for FY22. The company signed 14 large new deals during the quarter, which helped it record net new booking of $2.3 billion, a growth of 38% y-o-y. On Thursday, the company's scrip on BSE closed trading 1.1% lower at Rs 1,250.90.

“We have delivered a healthy performance this quarter marked by strong growth across our services portfolio  by our Digital Business, Engineering and Cloud Services. We had impressive client additions across all categories, reflecting strong demand and relevance of our offerings across all our client groups. We signed 14 large new deals, which helped us to record net new booking of $2.3 B, a growth of 38% YoY. Our net employee addition hit an alltime high of 11,135 this quarter. Our robust pipeline and continued strong employee ramp up augurs well for our business momentum going forward.”, said C Vijayakumar, Chief Executive Officer & Managing Director, HCL Technologies Ltd.