HCL Tech net profit rises 7% to Rs 3,489 crore in Q2, firm declares Rs 10 dividend
Published On: Wednesday, October 12, 2022 | By: Team KnowMyStock
IT firm HCL Tech on Wednesday reported a 7% rise in consolidated net profit at Rs 3,489 crore for the quarter ending September 30, 2022. It reported a consolidated net profit of Rs 3,259 crore in the year-ago period. Revenue from operations of the company stood at Rs 24,686 crore, clocking a 19.5 percent growth over Rs 20,655 crore last year. Sequentially, revenue rose 5.2 percent quarter on quarter (QoQ) from Rs 23,464 crore. Profit climbed 6.27 percent compared to Rs 3283 crore in the previous quarter. HCL Tech has delivered yet another solid performance this quarter with revenue growing at 3.8% QoQ and 15.8% YoY in constant currency and EBIT at 18% up 93 bps QoQ. Our services business grew 5.3% QoQ and 18.9% YoY in constant currency, led by strong demand for Cloud, Engineering, and Digital services.HCL Tech said it won 11 large deals – 8 in services and 3 in products. The total contract value of new deal wins was at $ 2,384 million, up 16 percent QoQ, up 6 percent YoY.
The company's board has also approved an interim dividend of ₹10 per share for the shareholders. The record date for the payment of the interim dividend has been fixed on 20 October 2022. “The Payment date of the said interim dividend shall be November 2, 2022," the company said in a regulatory filing.Roshni Nadar Malhotra, Chairperson of HCL Tech, said: “Our new brand identity brings razor-sharp focus to our go-tomarket strategy and execution capabilities to supercharge the digital transformation of our clients with the best of technology and people.""With our differentiated portfolio, we are well-positioned to leverage the opportunities that lie ahead in the digital-first world," Malhotra added.
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
