HCL Technologies Reports Net Income of Rs 3142 Crores up 18.5 Percent Year-on-Year

IT behemoth HCL Technologies reported rise in September quarter, and stated that the company’s net income is currently Rs 3142 crores, which is a rise of 18.5 percent year-on-year. some of the other highlights of the results are as follows: revenue at Rs 18,594 crores up 4.2% QoQ and 6.1% YoY; revenue in constant currency;up 4.5% QoQ and down 0.4% YoY; and net income at US$ 424 million up 9.7% QoQ and 12.7% YoY.

“We have delivered a stellar Q2 performance with a sequential revenue growth of 4.5% in constant currency and 21.6% EBIT margin. This growth momentum was driven by our continued leadership in Digital Transformation and Cloud businesses and a strong stability in the Products & Platforms segment, all of which continue to open diverse growth avenues for us. 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,” said C Vijayakumar, president and CEO, HCL Technologies.

As far as the financial year 2021 guidance is concerned, the company’s revenue is expected to grow QoQ by an average of 1.5% to 2.5% in constant currency for Q3 and Q4, FY’21 EBIT is expected to be between 20.0% and 21.0% for FY’21. HCL Technologies has alo signed 15 transformational deals, led by key industry verticals including life sciences and healthcare, public services (energy and utilities) and manufacturing, says a statement from the company.

““These unprecedented times and the volatile global business environment have changed the way organizations operate. Enterprises are accelerating the adoption of technology and sharpening their focus on being resilient and better prepared for unpredictable situations. As businesses rethink, redefine and refine their ways of working, it has become imperative for them to adopt sustainable practices that complement their agile business models. We believe that business has a collective social responsibility to ensure that stakeholders have every advantage to succeed. At HCL, we are committed to ensuring the socio-economic development of the communities we engage with around the world,” said Shiv Nadar, chief strategy officer, HCL Technologies.