HCL Technologies Ltd.’s second-quarter revenue rose, aided by deal wins and digital spending.
Business Environment
HCL Technologies won deals worth $2,384 million in the second quarter compared with $2,054 million in the previous three months. It won eight large service deals and three product deals from June to September.
"Our bookings and pipeline continue to be very strong, that augurs well for our future growth," C Vijayakumar, chief operating officer, said. "Concern of a recession is enabling more transformational deals. Clients preparing for slowdown are accelerating deals in the bid to be prepared. Pipeline remains robust," he added.
EBIT margin improved sequentially led by operating leverage and efficiencies, despite impact of salary increments for the largest section of the people, Aggarwal said.
The software company added net 8,359 new employees during the quarter, taking its total headcount to 2,19,325. The company has a target to hire 30,000-35,000 new employees in the current fiscal.
On moonlighting, Ramachandran Sundararajan, chief people officer, said the company doesn't approve "dual employment" as the employment contract requires exclusivity.
Shares of HCL Tech closed 1.4% higher before the results were announced on Wednesday compared with a 0.82% gain in the benchmark Nifty 50.
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