HCL Tech reported strong earnings for the third quarter ended December 31 with net profit jumping 31% to ₹3,982 crore while revenues rose 6.4% to ₹19,302 crore. HCL Tech shares were up 1% at ₹1037 in early trade as compared to a flat Mumbai market. The company declared an interim dividend of ₹4 per equity share.
“The technology sector is in the midst of a massive digitization wave, with more global enterprises embracing digital transformation to address the disruption of these unprecedented times. Technology has been a key enabler during the pandemic, and as we stand at the cusp of the next phase of technological innovation, it is vital that we draw inspiration from each other’s strengths and offer back our own to create a positive impact,” said Shiv Nadar, Chief Strategy Officer, HCL Technologies Ltd.
Here are the highlights from HCL Tech Q3 results:
Revenue at US$ 2,617 mn; up 4.4% QoQ & up 2.9% YoY
Revenue in Constant Currency; up 3.5% QoQ & up 1.1% YoY
EBITDA margin at 28.2%, (US GAAP); EBITDA margin at 29.1% (Ind AS); EBIT margin at 22.9%
Net Income at $540 mn (Net Income margin at 20.6%) up 27.3% QoQ & up 26.5% YoY
Revenue at ₹19,302 crores; up 3.8% QoQ & up 6.4% YoY
Net Income at ₹3,982 crores; up 26.7% QoQ & up 31.1% YoY
Revenue expected to grow QoQ between 2% to 3% in constant currency for Q4, FY’21, including DWS contribution.
EBIT expected to be between 21.0% and 21.5% for FY’21
HCL said it won 13 transformational deals across industry verticals, including Life Sciences and Healthcare, Technology and Financial Services.