HCL Technologies rose 1.84% to Rs 1119.80 after the IT company reported 4.4% rise in consolidated net profit to Rs 3,593 crore and 1.2% increase in revenue to Rs 22,597 crore in Q4 FY22 over Q3 FY22.
Compared with Q4 last year, adjusted net profit rose 23.9% while topline rose 15.1% in the last quarter.The company's adjusted net income rose 4.3% to Rs 13,499 crore on 13.6% increase in revenue to Rs 85,651 crore in the year ended March 2022 over the year ended March 2021.
For comparison purposes, net income of Q4 FY21 and full year FY21 excludes the impact of onetime milestone bonus paid to employees (US$ 78.8 million, Rs 575 crore net of tax) and the DTL on Goodwill impact in the tax expense ($165.1 million, Rs 1,222 crore) in Q4 FY21.
HCL expects revenue to grow at Rs 22,597 crore, up 1.2% QoQ & up 15.1% YoY. Net Income is expected at Rs 3,593 crore, up 4.4% QoQ & up 23.9% YoY.
In dollar terms, the company's revenue stood at $2,993 million, up 0.5% QoQ and it increased 11% YoY. Constant currency revenue rose 1.1% QoQ and it increased 13.3% YoY.
The company's EBITDA margin stood at 22.4% in Q4 FY22 as against 24.1% in Q3 FY22 and 26.9% in Q4 FY21. EBIT margin stood at 18% in Q4 FY22 as against 19.1% in Q3 FY22 and 20.4% in Q4 FY21.
Total Contract Value (TCV) of new deal wins stood at $2,260 million in Q4, registering 6% QoQ growth.
During Q4, Services business grew at 5.0% QoQ cc (17.5% YoY cc), with a CQGR of 5.2% for 3 consecutive quarters. Engineering and R&D Services grew at 3.9% QoQ cc (23.7% YoY cc), driven by traction in digital engineering and IoT Works. IT and Business Services grew at healthy 5.2% QoQ cc (16.2% YoY cc), driven by acceleration in cloud transformation and application and data modernization.
Growth momentum was led by Telecom, Media, Publishing & Entertainment (20.2%), Lifesciences & Healthcare (18.5%), Manufacturing (16.6%), Technology & Services (14.3%), and Financial Services (10.2%).
Geography growth was powered by Europe (13.6%), Americas (13.0%) and ROW (15.0%).
The company's total employee count stood at 208,877 as on 31 March 2022. Attrition (on the last 12-month basis) was at 21.9% in Q4 FY22 as against 19.8% in Q3 FY21 and 9.9% in Q4 FY21.
We have delivered yet another stellar quarter in our Services business, where the revenue is up 5.0% QoQ & up 17.5% YoY in constant currency. Over the last three quarters, our Services business has been consistently growing organically at 5% and higher, delivering one of the highest CQGR in the industry. Our overall growth on YoY basis stands at 12.7% which is better than the guidance led by strong momentum in Digital, Cloud and Engineering services. We continue to invest proactively to create a larger talent pool to address the demand", said C Vijayakumar, chief executive officer & managing director, HCL Technologies.
The company's board declared an interim dividend of Rs 18 per equity share for the Financial Year 2022-23. The record date if fixed on 29 April 2022.
HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P).
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