HCL Tech Q3 net profit jumps 31 per cent to ₹3,982 crore

Our Bureau. New Delhi | Updated on January 15, 2021 Published on January 15, 2021

Crosses $10 billion in revenues in 2020, declares ₹4 per share dividend.

HCL Technologies said its consolidated net profit rose 31 per cent year-on-year (YoY) to ₹3,982 crore in the third quarter ended December 31 compared to ₹3,037 crore recorded in the corresponding period of the previous year.

Its consolidated revenue grew by 6.4 per cent YoY to ₹19,302 crore during the October-December period as against ₹18,135 crore in the same period of 2019.

The company has declared a dividend of ₹4 per share, being 72nd consecutive quarter of dividend pay-out.

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For the full calendar year (January-December), the company has reported net income at ₹13,202 crores, up 26 per cent YoY and revenue at ₹74,327 crore, up 9.2 per cent YoY.

The company also said it had crossed $10 billion in revenues in 2020.

"This is a pivotal milestone for us as a company and is a result of HCL’s vision, our employees’ passion and disciplined execution," C Vijayakumar, President and Chief Executive Officer, HCL Technologies said.

He said the performance was driven by robust momentum in the company's Mode 2 and Mode 3 businesses led by Digital, Cloud and Products and Platform segments.

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"Our results reflect the success of the strategic investments we have made over the years including unique ecosystem constructs with all Cloud Hyperscalers, organic and inorganic investments in a broad-based IP and Platforms portfolio and an enterprise digital transformation value proposition that is truly integrated and differentiated," he added.

HCL won 13 transformational deals across industry verticals, including Life Sciences and Healthcare, Technology and Financial Services, during the quarter.

As of December 31, the company has 1,59,682 employees against 1,49,173 people in December 2019.



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Published on January 15, 2021
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