HCL Tech Q1 results: Net profit rises 9% to ₹3,213 cr, announces dividend of ₹6/share
PremiumHCL Tech's consolidated revenue from operations came at ₹20,068 crore as against ₹17,842 crore in the corresponding quarter last year
HCL Technologies on Monday reported a 9.4% rise in consolidated net profit at ₹3,213 crore for the quarter ended 30 June, 2021. The IT services firm had reported net profit of ₹2,935 crore in the year-ago period.
HCL Tech's consolidated revenue from operations came at ₹20,068 crore as against ₹17,842 crore in the corresponding quarter last year. The firm, in the regulatory filing, said that the revenue is expected to grow in double digits in constant currency for FY22.
HCL Tech also stated that it maintains FY22 EBIT margin guidance of 19-21%.
"We posted 11.7 per cent year-on-year revenue growth in constant currency and 29 per cent y-o-y growth in Mode 2 services in constant currency headlined by Cloud and Digital transformation deals.
“We remain very confident of a good quarter-on-quarter growth for the rest of this year, enabled by 37% y-o-y growth in bookings and 7,500-plus net hiring this quarter," HCL Technologies President and CEO C Vijayakumar said.
In constant currency terms, HCL Tech's revenue in the June 2021 quarter grew 11.7% year-on-year, the filing said.
In dollar terms, HCL Technologies' net income was up 12.8% at $43 million in the June 2021 quarter, while revenue was higher by 15.5% at $2,719.6 million in the reported quarter over the year-ago period.
Moreover, the company's board also approved an interim dividend of ₹6 per share. The record date of July 28, 2021 is fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors. The Payment date of the said interim dividend shall be August 10, 2021.
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“In a world still battling the aftermath of the pandemic and witnessing second or third waves, the agility and responsiveness of people and businesses have been a beacon of hope. As we look ahead with optimism, I believe that the experiences of the pandemic will foster greater adaptability and a spirit of innovation. Aided by the accelerated adoption of technology and leveraging the tenacity of people, the world will emerge as a better place," said Shiv Nadar, Chief Strategy Officer, HCL Technologies Ltd.
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