IT major HCL Technologies on Friday reported 18.5 per cent increase in its net profit for the September quarter Rs 3,142 crore. The company had posted a net profit of Rs 2,651 crore in the July-September 2019 quarter (as per US GAAP). On a sequential basis, net profit was 7.4 per cent higher from Rs 2,925 crore, while top line was higher by 4.2 per cent from Rs 17,841 crore in June 2020 quarter.
The company’s total revenue rose 6.1 per cent to Rs 18,594 crore in the quarter under review, from Rs 17,528 crore in the corresponding quarter in 2019.
In the second quarter, HCL Technologies retained its revenue guidance at an estimate of 1.5-2.5 per cent in constant currency terms for the third and fourth quarters of the current fiscal year.
“We have delivered a stellar Q2 performance with sequential revenue growth of 4.5 per cent in constant currency and 21.6 per cent EBIT margin,” HCL Technologies President and CEO C Vijayakumar said.
“This growth momentum was driven by our continued leadership in digital transformation and Cloud businesses and strong stability in the products and platforms segment, all of which continue to open diverse growth avenues for us,” he added.
“Our investments over the last few years in next-gen technologies have held us in good stead during these difficult times and position us strongly to leverage the emerging market opportunities,” Vijayakumar said.
The Board of Directors has declared an interim dividend of Rs 4 per equity share for the financial year 2020-21.
During the quarter, HCL signed 15 transformational deals. At the end of September 2020 quarter, HCL had 1,53,085 employees, while attrition for IT services (on a last 12 month basis) was at 12.2 per cent.