HCL Tech Q2 PAT rises 5.7% QoQ to Rs 25.40 billion

Leading IT services firm HCL Technologies reported a 5.7 per cent quarter-on-quarter (Q-o-Q) rise in its consolidated net profit at Rs 25.40 billion.

Revenues for the period came in at Rs 148.61 billion, up  7.1 per cent Q-o-Q and 19.5 per cent on year-on-year (Y-o-Y) basis.

Earnings before interest & tax (EBIT) stood at Rs 29.66 billion, up 8.7 per cent on Q-o-Q basis and 21 per cent Y-o-Y.
 

The company said that FY19 revenues are expected to grow between 9.5 per cent to 11.5 per cent in the constant currency terms.

Revenue guidance is based on FY18 (April to March) average exchange rates The IT services firm also announced the dividend of Rs 2 per share.

“We delivered a robust performance of 10.5 per cent YoY revenue growth in constant currency and EBIT margin at 19.9 per cent, near the mid-point of our guided range. We are very happy to report that our Net Profit has crossed a milestone of Rs 100 billion on run-rate basis. At Rs 25.40 billion for the quarter, the net profit was up 5.7 per cent QoQ and 16.1 per cent YoY. Further, we successfully concluded the Buyback programme of Rs 40 billion on Oct 11th and have posted robust return on equity at 25.8 per cent on LTM basis.”, said Prateek Aggarwal, CFO, HCL Technologies.

FY19 expected operating margin (EBIT) range is from 19.5 per cent to 20.5 per cent, the company said in its press release.