HCL Tech Q2 results: Net profit rises 4% to Rs 3,259 cr, revenue up 11%

HCL Tech Q2 results: Net profit rises 4% to Rs 3,259 cr, revenue up 11%



firm reported second quarter revenue at Rs 20,655 crore, up 2.9 per cent sequentially and 11.1 per cent on a year-on-year basis. Net Income for the quarter ended September 30 was Rs 3,265 crore, a rise of 1.6 per cent quarter-on-quarter and 3.9 per cent annually.

The company 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.


The firm continues to expect FY22 revenue to grow in double digits in constant currency, while EBIT margin is expected to be between 19 and 21 per cent for FY22.






The IT firm’s Board approved a payout policy that entails investor payouts of not less than 75 per cent of net income cumulatively over five years- FY 22 to FY26, said Prateek Aggarwal, Chief Financial Officer, Ltd, in a statement.


The total contract value of new deal wins in Q2 rose sequentially to $2.245 billion, a 38 per cent growth from the previous year, enabled by 14 net new large deal wins. In Q1, the TCV was $1.67 billion.

“We have delivered a healthy performance this quarter marked by strong growth across our services portfolio led 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 bilion, a growth of 38 per cent Y-o-Y. Our net employee addition hit an all time 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, Ltd, in a statement.


The Noida-based firm added one $100 million client during the quarter, 12 over $50 million clients, 18 clients over $20 million and over $10 million clients up by 18, and 12 clients worth over $5 million.


Hiring continued with net addition of 11,135 people during the quarter, the highest in the last 24 quarters. Total headcount at HCL Technologies is now at 187,634.


“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, in a statement.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: