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HCL Tech Q2 results: Net profit rises 4% to Rs 3,259 crore, announces interim dividend of Rs 10 apiece

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HCL Technologies Ltd reported a 4 percent year-on-year jump in consolidated net profit at Rs 3,259 crore for the second quarter ended September 30.

HCL Tech Q2 results: Net profit rises 4% to Rs 3,259 crore, announces interim dividend of Rs 10 apiece
IT firm HCL Technologies Ltd on Thursday reported a 4 percent year-on-year (YoY) jump in consolidated net profit at Rs 3,259 crore for the second quarter ended September 30.
In the corresponding quarter last year, the Noida-headquartered company posted a net profit of Rs 3,142 crore. CNBC-TV18 Poll had predicted a profit of Rs 3,219 crore for the quarter under review.
Its consolidated revenue from operations jumped 44 percent to Rs 20,655 crore during the reported quarter from Rs 18,594 crore in the corresponding quarter of 2020-21. In dollar terms, revenue for the quarter came in at $2.8 billion, a growth of 3 percent over the previous quarter.
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HCL Tech said it expects revenues to grow in double digits in constant currency for 2021-22. EBIT margin is expected to be between 19.0 percent and 21.0 percent for 2021-22.
In constant currency terms, revenue was up 3.5 percent during the September quarter on a sequential basis and the same increased 10.5 percent year-on-year. The company reported earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 4,838 crore for the reporting period.
Coming to net employee addition, it hit an all-time high of 11,135 this quarter. The total headcount now stands at 187,634. The company announced an interim dividend of Rs 10 per share for the fiscal year 2021-22 (FY22) while announcing its September quarter result.
Roshni Nadar Malhotra, Chairperson, HCL Technologies Ltd, said, "As we look forward with hope and optimism, what stands out is the human capacity to overcome unforeseen challenges, born of sheer determination. The pandemic accelerated the need for building together a sustainable and scalable future and investing in purpose-driven growth."
"The lessons learned have sharpened our ability to adapt and to innovate and deepened our commitment to bringing positive change through technology. We believe in ‘The New Essential’ – the confluence of technology and human ingenuity – as the path forward. In the months ahead, we will further accelerate our actions and investments in emerging technologies, people and ESG to build a stronger and better future together."
C Vijayakumar, chief executive officer & managing director, HCL Technologies Ltd, "We have delivered a healthy performance this quarter marked by strong growth across our services portfolio by our Digital Business, Engineering and Cloud Services. We had impressive client additions across all categories, reflecting strong demand and relevance of our offerings across all our client groups."
"We signed 14 large new deals, which helped us to record a net new booking of $2.3 billion, a growth of 38 percent YoY. Our net employee addition hit an all-time high of 11,135 this quarter. Our robust pipeline and continued strong employee ramp up augurs well for our business momentum going forward."
The results came after the close of the market hours. Shares of HCL Technologies ended at Rs 1,250.90, down by Rs 14.80, or 1.17 percent on the BSE.
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