HCL Tech Reports Net Profit Of Rs 3,259 Crore In Q2, Declares Interim Dividend
HCL Technology announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 3,259 crore on a consolidated basis, compared to Rs 3,143 crore in the corresponding month last year, marking a growth of four per cent year-on-year.
The IT major's revenue from operations in the second quarter of the current fiscal stood at Rs 20,655 crore, compared to Rs 18,594 crore, registering a growth of 11.3 per cent year-on-year, according to a regulatory filing by the company to the stock exchanges today. HCL Tech said that it expects revenues to grow in double digits in constant currency for 2021-22.
HCL Tech's net income in the September quarter stood at Rs 3,265 crore, up 3.9 per cent year-on-year, and its total income stood at Rs 20.895 crore on a consolidated basis. The company's board declared an interim dividend of Rs.10 per equity share of Rs.2 each of the company for the financial year 2021-22. The payment date of the interim dividend is set as November 8, 2021.
''We signed 14 large new deals which helped us to record net new booking of $2.3 B, a growth of 38 per cent YoY. Our net employee addition hit an all time high of 11,135 this quarter,'', said C Vijayakumar, Chief Executive Officer (CEO) & Managing Director, HCL Technologies.
“Services revenue (ITBS & ERS) grew strongly at 5.2 per cent QoQ in constant currency, with stable EBIT. P&P growth was impacted due to delays in closure of certain deals. Client mining has been healthy across all categories, notably, the number of $ 50 million clients now stand at 41 (Up 12 YoY),'' said Prateek Aggarwal, Chief Financial Officer, HCL Technologies.
On Thursday, October 14, shares of HCL Tech settled 1.17 per cent lower at Rs 1,250.90 on the BSE. HCL Tech opened at Rs 1288.00, touching an intra day high of Rs 1,293 and an intra day low of Rs 1,244.35, throughout the trading session today.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
