BUSINESS

HCL Tech Q3 Results: Profit Up 31% at Rs 3,982 Crore

HCL Technologies on Friday reported a 31.1 per cent YoY rise in net profit at Rs 3,982 crore for the December quarter compared with Rs 3,037 crore in the same quarter last year.
Revenue for the quarter rose 6.4 per cent YoY to Rs 19,302 crore compared with Rs 18,135 crore in the corresponding quarter last year.
Ebit margin for the quarter expanded to 22.9 per cent in December quarter from 21.6 per cent the September quarter and 20.2 per cent in the December quarter of last year. Ebit margin was up 265 basis points YoY and 129 basis points QoQ.
In dollar terms, revenues rose 2.9 per cent YoY to $2.62 billion. In constant currency terms, revenues were up 1.1 per cent YoY and 3.5 per cent sequentially.
This solid performance was driven by robust momentum in Mode 2 and Mode 3 businesses led by Digital, Cloud, and Products & Platform segments, said Vijayakumar, President & CEO at HCL Technologies.
“Our results reflect the success of the strategic investments we have made over the years including unique ecosystem constructs with all Cloud Hyperscalers, organic and inorganic investments in a broad-based IP and Platforms portfolio, and an enterprise digital transformation value proposition that is truly integrated and differentiated,” he said.
EBIT margin is expected to be in 21-21.5 per cent for the full financial year, the IT firm said. The IT firm declared a dividend of Rs 4 per share. It was the 72nd consecutive quarter of dividend payout by the IT firm.

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