UPDATE: HCL Tech Profit Rises 4% To Rs 3,259 Crore In September Quarter, Dividend Announced

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HCL Tech Q2 Results: Net profit stood at Rs 3,259 crore in the September quarter

HCL Technology announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 3,259 crore on a consolidated basis, compared to Rs 3,143 crore in the corresponding month last year, marking a growth of four per cent year-on-year.

The IT major’s revenue from operations in the second quarter of the current fiscal stood at Rs 20,655 crore, compared to Rs 18,594 crore, registering a growth of 11.3 per cent year-on-year, according to a regulatory filing by the company to the stock exchanges today. HCL Tech said that it expects revenues to grow in double digits in constant currency for 2021-22.

HCL Tech’s net income in the September quarter stood at Rs 3,265 crore, up 3.9 per cent year-on-year, and its total income stood at Rs 20.895 crore on a consolidated basis. The company’s board declared an interim dividend of Rs.10 per equity share of Rs.2 each of the company for the financial year 2021-22. The payment date of the interim dividend is set as November 8, 2021.

”We signed 14 large new deals which helped us to record net new booking of $2.3 B, a growth of 38 per cent YoY. Our net employee addition hit an all time high of 11,135 this quarter,”, said C Vijayakumar, Chief Executive Officer (CEO) & Managing Director, HCL Technologies.

“Services revenue (ITBS & ERS) grew strongly at 5.2 per cent QoQ in constant currency, with stable EBIT. P&P growth was impacted due to delays in closure of certain deals. Client mining has been healthy across all categories, notably, the number of $ 50 million clients now stand at 41 (Up 12 YoY),” said Prateek Aggarwal, Chief Financial Officer, HCL Technologies.

On Thursday, October 14, shares of HCL Tech settled 1.17 per cent lower at Rs 1,250.90 on the BSE. HCL Tech opened at Rs 1288.00, touching an intra day high of Rs 1,293 and an intra day low of Rs 1,244.35, throughout the trading session today.

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