Tag: hcl tech

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. Read more

Shares of HCL Technologies Ltd jumped about 3% at ₹1,135 apiece in Friday's early deals on the BSE after the IT company reported a nearly 24% jump in its Q4 net profit at ₹3,593 crores compared to Rs 1,102 crore reported in the corresponding quarter a year ago. whereas revenue for the March quarter rose 15% from a year earlier to ₹22,597 crores as against Rs 19,642 crore reported in the year-ago period. On a sequential basis, revenues increased 1.2 percent in comparison with Rs 22,331 crore reported during the previous quarter. Due to the impact of deferred tax credit and the one-time milestone bonus paid during Q4FY21, the adjusted net profit during the same period last year stood at Rs 2,962 crore. The adjusted profit after tax for the quarter grew 21.3 percent year on year. It also declared an interim dividend of Rs 18/- per equity share of Rs.2/- each with a record date of April 29, 2022. Read more

Shares of HCL Technologies surged 5 per cent to hit a new high of Rs 1,168 on the BSE in intra-day trade on Monday, after the company said it has signed a contract with Munich Re, one of the world’s leading reinsurers, to create a next generation digital workplace for its workforce. The Indian IT major said that building on its strategic digital transformation partnership with Munich Re, HCL will modernize and standardize workplace services for more than 16,000 employees in 40 countries. The company further said it will adopt a “global” strategy to support Munich Re’s global workforce in multiple languages, including German, Spanish and Mandarin, from near-shore locations. HCL will also implement a highly personalized service desk solution and leverage the power of automation and self-service capabilities to improve efficiency and enhance employee user experiences, the company said. Read more

HCL Technologies posted a strong set of numbers for the December quarter, with net profit up 31.1 percent year-on-year (YoY) at Rs 3,982 crore as compared to the corresponding quarter a year ago. The net profit rose 26.7 percent on a sequential basis. HCL's consolidated revenue rose 6.4 percent to Rs 19,302 crore YoY and 3.8 percent sequentially. The EBIT margin of the IT services provider expanded 265 basis points on a YoY basis to 22.9 percent in the October-December period - a 24 quarter high. The company’s revenue also crossed the $10-billion milestone in 2020, delivering a 3.6 percent YoY growth in constant currency. The company won 13 transformational deals across industry verticals, including life sciences and healthcare, technology, and financial services. “The solid performance was driven by robust momentum in its Mode 2 and Mode 3 businesses led by digital, cloud and products & platform segments, according to president & CEO, HCL Technologies.