HCL Technologies Reports Profit Of Rs 3,442 Crore In Q3, Declares Dividend Of Rs 10

HCL Technologies on Friday reported a net profit of Rs 3,442 crore in the quarter ended December 2021, marking an increase of 6 per cent from the profit of Rs 3,259 crore in the previous quarter. Its revenue from operations rose 8 per cent sequentially to Rs 22,331 crore, the highest in the last 12 years, HCL Technologies said in an earnings release.

HCL Technologies revenue in dollar terms came in at $2,977 million, up 6.7 per cent sequentially. In constant currency terms, revenue registered a growth of 15 per cent.

HCL Technologies has guided for revenue growth in double digits in constant currency terms for the current financial year and the EBIT margin is expected to be between 19 and 21 per cent.

During the quarter, the Noida-based HCL Technologies acquired a 100 per cent stake in Starschema, a limited liability company incorporated in Hungary for total cash consideration of $42.5 million. "With this acquisition, HCL would enhance its capabilities and solutions in Data Engineering which will accelerate the growth of Mode 2 services in Digital Engineering, Near-shore Eastern European presence and ability to scale. The transaction is expected to be closed by March 2022," HCL Technologies said.

The company has declared a dividend of Rs 10 per share for the 76th quarter in a row.

“We are in the disruption phase of our lives, and the world has been dramatically reshaped and transformed. Technology has become pervasive, in our homes, and livelihoods, and is the epicentre of our lives. Our HCL family has been a catalyst in this change and is helping global enterprises embrace digital transformation, with a unique blend of products and services. As the global economy revives and we emerge from this crisis, we will continue to meet future challenges armed with our core beliefs of innovation and invention, driven by a strong faith in humanitarian values”, said Roshni Nadar Malhotra, Chairperson, HCL Technologies in a statement.

HCL Technologies shares ended 0.32 per cent higher at Rs 1,337.55 ahead of its earnings announcement.