Friday, January 15, 2021
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.
