HCL Tech March Quarter Profit Rises 4% To Rs 3,154 Crore

HCL Tech said its revenue in constant currency terms rose 0.8% sequentially
HCL Tech said its revenue in constant currency terms rose 0.8% sequentially

IT major HCL Technologies on Thursday reported a net profit of Rs 3,154 crore for the quarter ended March 31, marking an increase of 3.8 per cent on a sequential basis. In a regulatory filing, HCL Tech said its revenue from operations came in at Rs 18,590 crore in the January-March period, up 2.5 per cent compared to the previous quarter. In dollar terms, HCL Tech said its revenue in the March quarter was $2,543 million, unchanged from the quarter ended December 31. Net profit rose 1.2 per cent to $431 million, the company said.

Revenue in constant currency terms rose 0.8 per cent on a quarter-on-quarter basis, HCL Tech said.

HCL Technologies said countries across the world are working hard to combat the coronavirus (COVID-19) pandemic and "positively embracing all the changes that have come their way at such speed and short notice".

For the year ended March 31, HCL Tech said its net profit grew 9.3 per cent year-on-year to Rs 11,062 crore, and revenue increased 17 per cent to Rs 70,678 crore.

"The world is going through a significant shift, and adaptability and innovation are the key to stay relevant. As our lives get increasingly governed by new tools and technologies, it is important to find an equilibrium and leverage the power of these solutions to bring about a positive and sustainable change," said Shiv Nadar, chairman and chief strategy officer, HCL Technologies.

"Forward-thinking organisations will drive this from the front while ensuring that innovations driven by them benefit both internal and external stakeholders and the larger environment and communities, especially in these times of unprecedented challenges."

Shares in HCL Tech declined 2.19 per cent during the session before settling with a loss of 1.50 per cent at Rs 511.80 apiece on the BSE, underperforming the benchmark S&P BSE Sensex index which ended a choppy session down 0.76 per cent.