HCL Tech Q3 net profit up 31%, crosses $10-bn revenue milestone in 2020

Revenue is expected to grow 2-3 per cent in constant currency terms in Q4 while EBIT outlook for FY21 is now 21-21.5 per cent, up from 20-21% announced previously

Riding the digitisation wave, HCL Technologies posted a strong set of numbers for the December quarter, with net profit up 31.1 per cent year-on-year (yoy) at Rs 3,982 crore as compared with the corresponding quarter a year ago. The net profit rose 26.7 per cent on a sequential basis. The net income was also due to lower tax expenses, primarily due to reversal of tax provisions related to prior years, according to the company.
 

The Noida headquartered company’s consolidated revenue was up 6.4 per cent to Rs 19,302 crore yoy and 3.8 per cent sequentially. The EBIT margin of the